Recharacterization explanation for IRS?

[Highbeam]

Folks, I'm a little bit unsure of what to do. I recharacterized my 2015 Roth into a 2015 TIRA. Did my taxes and discovered that I made too much for a TIRA so I went back recently and recharacterized the 2015 TIRA back to a 2015 Roth. All with vanguard and for the full 11000 that my family is allowed.

I realize that some part of these recharacterizations is "reportable" to the IRS. In the end, the net effect of them was zero but I don't want to trigger an audit.

I was provided with 1099 forms for the first recharacterization and maybe for the second recharacterization will come soon.

I use turbotax and nothing is mentioned about this. What do I do?
 

[Highbeam]

To reply to my own question, it appears that the second recharacterization acts to nullify the initial recharacterization. I am not going to say anything about it to the IRS and hope for the best.

[MDM]

No idea by how much, but I suspect filing a tax return with information that differs from your 1099 will increase the chances of an audit.  You might ask Vanguard when (if?) a replacement 1099 will be available to you.

[NoStacheOhio]

I don't know about Vanguard, but Fidelity issues revised tax forms in May. You could just file for an extension, then file everything when the dust settles.

[Highbeam]

I just got off the phone with VG again and they assure me that you are allowed to re-recharacterize (roth-tira-roth) and to treat the 2015 contribution as the last type which for me is Roth. It was done properly and notation made in my account.

They did say that recharacterizations are reportable (nomatter how many times) so I need to attach the written statement to my tax forms since the 1099R was sent to the IRS.

Oh and for a bonus, there will be another 1099R issued next year to reflect the last recharacterization of the 2015 contributions since it occurred in 2016. As such, I will need to attach a written statement describing this on my 2016 tax return as well.

I hope somebody learns from my mistake. It's a hassle to recharacterize once. Doing it twice is even worse.