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dadmarz
New Member

I recharacterized my access contrib to RothIRA for 2017 Tax year by converting it to Trad IRA in 4/2018. I got a 2018 1099-R ,TurboTax says I need to amend my 2017 tax?

 
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DanielV01
Employee Tax Expert

I recharacterized my access contrib to RothIRA for 2017 Tax year by converting it to Trad IRA in 4/2018. I got a 2018 1099-R ,TurboTax says I need to amend my 2017 tax?

It depends.  If you did not originally report in 2017 that the contribution was a nondeductible Traditional IRA contribution (which is what a recharacterization implies), then you will need to amend your 2017 return to do so.  This way, your basis in the nondeductible TIRA can be tracked through Form 8606.  If you immediately converted the recharacterization back into a Roth, you report that transaction with your 2018 return.  Please see this FAQ to see how this is done:  https://ttlc.intuit.com/replies/6768029

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