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Financial Planning / Tax Strategies
|Subject: Re: IRA Recharacterization/Distribution?||Date: 2/4/2013 8:27 AM|
|Author: TMFPMarti||Number: 117615 of 122911|
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.
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