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Level 1
posted Feb 15, 2023 1:00:01 PM

Roth IRA $6000 contributed 2021, Recharacterizated 2022, Form 1099R received 2023

YR-2021 1040 tax filings:
Roth IRA contribution: $6000 12/20/21
Recharacterized: 3/3/22 
Reason: IRA deduction - no 401k at work.

Form 1099R 2022, amount $5711.74 dated 1/7/23 received in 2023. Entered it on Turbo Tax  for 2022 tax filing, which said to "amend" 2021 return. Why not for 2022 if I received and recharacterized it in 2022?

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1 Replies
Expert Alumni
Feb 15, 2023 1:16:03 PM

You said you recharacterized the ROTH IRA contribution that was made on 12/20/21 to a traditional IRA. So, the recharacterization would belong in the 2021 tax year. The recharacterization ocurred in 2022, but it applies to 2021, so that is the return you may need to amend.