The Motley Fool Discussion Boards
Financial Planning / Tax Strategies
|Subject: Re: IRA Recharacterization/Distribution?||Date: 2/4/2013 8:27 AM|
|Author: TMFPMarti||Number: 117615 of 122648|
Late last year I mistakenly made a deposit to a regular IRA instead of my Roth.
I conducted a recharacterization and the money was moved from the regular IRA to the Roth..
I received a 1099-R for a distribution of those funds from the regular IRA.
Is this to be expected?
If so, how do I account for this on my tax forms?
See Example 2 on page 4 of the instructions for Form 8606. The only number that winds up on your return is the 1099-R amount on line 15a.
Rule Your Retirement Home Fool
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|