1099-R amended return

barnabei — Sun, 29 Mar 2020 16:56:57 GMT

Hi all,

Doing my 2019 return and TurboTax is telling me I need to amend my 2018 return because "my 1099-R reports earnings made on contributions made in 2018. This information needs to go on your 2018 return. I have the CD version and gone into TT 2018 to initiate an amendment but I don't know what exactly I need to do. Here's a more detailed description of my situation:

In early 2019 (tax year 2018) I transferred money to a Roth IRA directly, which was a mistake. What I should have done was transfer to a Trad IRA, then Roth (a backdoor Roth). I'm married filing separately and I can't deduct any IRA contributions, and a form 8606 was created as part of my 2018 return. Once I realized the mistake, I had the funds recharacterized and moved to my Trad IRA. This was a month later and after I filed my tax return. Between the mistaken transfer of funds to the Roth and the correction to make it a Trad IRA, its appears the value of that investment increased by $1.62 (it was in a money market fund or something). My 2019 1099-R is has an "R" in box 7 and I'm guessing this is the reason it was flagged. So, like I said above I can get to the 2018 return in the TT software to make an amendment, but I'm not sure where to go from there. I went to the retirement section but it's asking for a 1099-R form and I don't have one from 2018. I would assume I don't use the 2019 form.

Anyways, can anyone help? Thanks,

-Matt

Re: 1099-R amended return

DanaB27 — Sun, 29 Mar 2020 19:39:04 GMT

Matt,

you are correct to go to the retirement section when amending your 2018 return. You will enter the 1099-R from 2019 in your 2018 tax return because of the code R—Recharacterized IRA contribution made for 2018 and recharacterized in 2019 in box 7. TurboTax will then ask "Which Year on Form 1099-R?" select 2019 and TurboTax will know that this entry belongs in 2018.

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1099-R amended return

Re: 1099-R amended return