Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Jun 4, 2019 3:39:22 PM

How do I report a recharacterization if I already received my 1099-R for 2016?

I spoke to my brokerage today about doing a recharacterization of funds for tax year 2016. The funds were converted from my Traditional to my Roth IRA in 2016 and I now want to reverse that transaction by doing a recharacterization.

I have already received my 1099-R for 2016 and I expected to receive a new one once I did the recharacterization. However, my brokerage said I would not be receiving a new 1099-R and that it would be reported next year.

If I won't be receiving any new tax documents reflecting the recharacterization, how do I report it on my 2016 taxes?

0 1 1033
1 Replies
Intuit Alumni
Jun 4, 2019 3:39:24 PM

You will report the transaction on this year's tax return. Please follow the directions in the answer link below to record this transaction.

https://ttlc.intuit.com/replies/5314355