Question

Question on 2018 ROTH IRA contribution recharacterized to Traditional IRA in February-2019.

Forum|Forum|6 years ago
February 1, 2020
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I recharacterized a Roth IRA contribution made in 2018 to a non-deductible Traditional IRA contribution in February-2019. While filing my 2018 tax return, I read on site that since I recharacterized before the 2018 filing, I could report my contribution as a Traditional IRA for 2018 which I did AND included a statement as part of my tax return explaining what I did. I received a Form 1099-R in January-2020 for this recharacterization. While entering this data on my 2019 Tax return, Turbotax tells me that I have to file an amended 2018 return.

This is where I'd appreciate some guidance: Since I did the re-char on my 2018 tax filing ( ie filed form 8606), how should I proceed here ?

D

dmertz

Employee

There is no need to amend since your 2018 tax return already reflects the recharacterization. TurboTax's message is for those who filed their 2018 tax return without indicating the recharacterization and then recharacterized later by October 15 and have yet to amend.