topic When should I expect my 1099-R for a 2016 IRA recharacterization completed in 2017? in Retirement tax questions

When should I expect my 1099-R for a 2016 IRA recharacterization completed in 2017?

susan2 — Mon, 03 Jun 2019 20:09:46 GMT

I converted part of an IRA to a Roth IRA in 2016. I have recharacterized back a portion of the conversion in 2017 that I am using for my 2016 tax return. I assume that I enter information based on my statements, but the turbo tax guidance (Examples 4-6) says to enter the 2017 1099-R on my 2016 return. I assume the 2017 1099-R will not be mailed by my broker until 2018. Are there special rules on recharacterizations that my broker should be sending me a 1099-R before the end of the tax year?

You don't need one. You can treat the contribution as mad...

KatrinaB — Mon, 03 Jun 2019 20:09:47 GMT

You don't need one. You can treat the contribution as made to the traditional IRA for this tax year. Even though you recharacterized the money in 2017, your original contribution was made in 2016. Please view the answer link below for more information.

https://ttlc.intuit.com/replies/5849264

Please also view the IRS link below.

https://www.irs.gov/retirement-plans/retirement-plans-faqs-regarding-iras-recharacterization-of-roth...