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Subject:  Re: Roth IRA Recharacterization Date:  9/15/2013  8:16 PM
Author:  TMFPMarti Number:  119149 of 129726

I think the OP is right to want his statements, 1099-Rs, and 5498 at year-end to reflect the actual situation - and I give him credit for thinking about it now, rather than next Feb. 15.

I don't recall OP expressing any concern at all about those documents, nor do I see a reason to have any.

Schwab will issue a 1099-R for the traditional IRA showing the conversion. They may, but are not required to, issue 1099-R's for the direct transfer of the accounts to Vanguard. Schwab will issue a 5498 for the Roth account showing the conversion amount. The custodian reports nothing, nada, zilch, bupkes about recharacterizations. That's why the taxpayer attaches a statement to the 1040 telling the story. Check out the instructions for line 15 of the 1040 and the 8606.

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