I received 2024 1099-R with distribution code R on box 7, corresponding to recharacterization from Roth IRA to IRA I did last year. Since the recharacterization was done prior to tax filing, I was able to include form 8606 in 2023 tax return to account for non-deductible contribution. Based on this, do I still need to make amendment on my 2023 tax return? Are there any other next steps I need to consider based on this 1099-R?
No, if you already entered the recharacterization on your 2023 return then you do not need to amend the 2023 return. It seems you reported everything correctly since you have a 2023 Form 8606 for the nondeductible traditional IRA contribution.
Enter your E-mail address. We'll send you an e-mail with instructions to reset your password.
©1997-2022 Intuit, Inc. All rights reserved.
Intuit,
QuickBooks, QB, TurboTax, ProConnect, and Mint are registered
trademarks
of Intuit Inc. Terms and conditions, features, support, pricing,
and service options
subject to change without notice.
Security
Certification of the TurboTax Online application has been
performed by
C-Level Security.
By accessing and using this page you
agree to the
Terms of Use.
Accessibility
