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Learning, Sharing, and Teaching => Taxes => Topic started by: FiguringItOut on February 23, 2020, 08:10:15 AM

Title: 1099-R question
Post by: FiguringItOut on February 23, 2020, 08:10:15 AM

Last year, for 2018, I recharacterized  $2466 of my tIRA contribution to Roth IRA when I was completing my 2018 tax return and I was over the threshold to be able to deduct the full tIRA contribution.

I'm doing my 2019 tax return right now (TurboTax) and after I inputted my Vanguard 1099-R for 2019 which shows this $2,466 recharacterization, it tells me that I may need to amend my 2018 return.

Why?  There is no explanation or anything.  I don't understand what's going on? 

ETA:  I recharacterized $483 in 2018 for 2017 tIRA contribution and did not have these issues last year when doing 2018 return.

Title: Re: 1099-R question
Post by: MDM on February 23, 2020, 03:10:11 PM

What are the Box 7 codes for the 1099-Rs?

Did you file Form 8606 in 2017 and 2018?

Title: Re: 1099-R question
Post by: FiguringItOut on February 28, 2020, 07:51:22 AM

Box 7 says R in it and yes I filed Form 8606 in 2018.

I now have a bigger problem though.  My 2019 return was rejected when I filed yesterday because my children's father claimed the wrong child.  So when I filed yesterday I got a message saying that my depended has been claimed already by someone else.

I'm waiting for his to fix this, hopefully.  And now I don't know if when I file will I have any problems doing so and if I will have to pay another $80 to turbotax to file the second time.