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? I hate to think that I'd have to pay tax on this, especially since the initial deposit was from after tax funds.Do I claim the initial deposit and the distribution so that the tax issue is a wash? What about the early withdrawal penalty?Thanks,Jim
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