1099 R with R

[wendy3152020]

Received 2025 1099R with box 7 with R due to recharacterization in 2024 (already reported it on 2024 tax return).  If you don't enter this 2025 Form 1099R on the 2025 tax return, will the IRS find a missing tax form for the 2025 tax return? So, to avoid it, should you still enter this 1099R and attach a statement that the 2024 tax return already reported recharacterization, or just ignore this 2025 1099R completely? What's the best solution?

Could anyone please advise? Thank you very much!

[baldietax]

you can just enter it into Turbotax and it will give you a warning to check your 2024 return.  1099s are not sent to the IRS so it doesn't affect your 2025 return either way.

[baldietax]

to clarify I meant 1099s you enter into Turbotax are not part of your return that is sent to IRS, only the end result in terms of tax forms.  IRS already has the 1099s from the financial institutions.

[wendy3152020]

Thank you very much!  You mean 1099-R, right? So, it doesn't make a difference whether I enter the 2025 1099R with box 7 with R, it won't affect my return, correct?  So, what's the most common practice on this matter?

[DianeW777]

Yes, you should enter the 1099-R because the code in Box 7 tells the IRS exactly what you did. It will not tax the distribution on your 2025 tax return except and unless you did get the earnings. The earnings will be the only taxable part on your 2025 tax return and should show on your form.

• Code R –Recharacterized IRA contribution made for 2024 and recharacterized in 2025
• If there is any federal withholding that must also be entered to receive your credit.

@wendy3152020