topic Do I need to amend a 2018 tax return if in 2019 I re-characterized a 2018 Traditional IRA to Roth IRA due to the 2018 Traditional IRA being disallowed? in Retirement tax questions

Do I need to amend a 2018 tax return if in 2019 I re-characterized a 2018 Traditional IRA to Roth IRA due to the 2018 Traditional IRA being disallowed?

j2a2white — Wed, 05 Feb 2020 00:10:41 GMT

Re: Do I need to amend a 2018 tax return if in 2019 I re-characterized a 2018 Traditional IRA to Roth IRA due to the 2018 Traditional IRA being disallowed?

dmertz — Wed, 05 Feb 2020 00:52:56 GMT

Only if your 2018 tax return does not already reflect the result of the recharacterization.

Re: Do I need to amend a 2018 tax return if in 2019 I re-characterized a 2018 Traditional IRA to Roth IRA due to the 2018 Traditional IRA being disallowed?

j2a2white — Fri, 07 Feb 2020 03:51:36 GMT

The Re-characterization occurred after the 2018 Tax Return was filed.

Re: Do I need to amend a 2018 tax return if in 2019 I re-characterized a 2018 Traditional IRA to Roth IRA due to the 2018 Traditional IRA being disallowed?

dmertz — Fri, 07 Feb 2020 04:15:46 GMT

So, since the traditional IRA contribution is nondeductible, are you saying that your 2018 tax return reported a nondeductible traditional IRA contribution Form 8606 line 1? If so, that would be cause to amend your 2018 tax return (or at least amend your 2018 Form 8606). Otherwise, if your 2018 Form 8606 did not show a nondeductible contribution on line 1 and did not show a traditional IRA contribution on Schedule 1 line 32, there would be no need to amend unless the recharacterization resulted in an excess Roth IRA contribution.

Re: Do I need to amend a 2018 tax return if in 2019 I re-characterized a 2018 Traditional IRA to Roth IRA due to the 2018 Traditional IRA being disallowed?

j2a2white — Sun, 09 Feb 2020 00:47:14 GMT

Yes, Form 8606 Line 1 does have the 2018 amount of the Traditional IRA entered. Thank you