IRA recharacterization from Roth to tradition

Forum|Forum|6 years ago
May 30, 2020
1 reply
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In April 2019, I recharacterized a Roth IRA to traditional for the 2018 tax year. I thought I reported in 2018 even though I didn’t have the 1099-r for it. In 2020, I got the 1099-r for it and it had code “r”. How can I verify if I reported it correctly on my 2018 tax return. Would it appear on form 8606?

macuser_22

Alumni - Champ

Yes, if it was non-deductible. It should be on an 2018 8606 line 1 or if you deducted it on the 1040 Schedule 1 line 32.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

MDF11Author

Level 2

I do see it on line 1 of the form 8606. I wasn't sure if line 1 was for traditional only and the form would have a section on recharacterization.

Any chance you know how the answer to the following q on Roth conversions?

In April 2019 I converted my traditional IRA which had a balance of ~$20K ($5500 nondeductible, $14.5 deductions contributions). I do not have other traditional IRAs (zero balance). I just realized that I did not report the $5500 nondeductible in my 2018 tax return (that's the year I made the contribution for). I now know I have to amend my 2018 return to report but then how do I report a roth conversion with mix deductible and non-deductible in TT?

thanks!