Vanguard 1099-R Error

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chen1991
Posts: 25
Joined: Tue Mar 20, 2018 9:27 pm

Vanguard 1099-R Error

Post by chen1991 »

Hello all,

In Feb 2022 I contributed 6k in my Roth IRA, later find out I’ll not be eligible and converted my contribution plus earning to traditional IRA, then backdoor into Roth IRA.

However my 1099 R form box 7 indicated R instead of N.
N--Recharacterized IRA contribution made for 2022 and recharacterized in 2022.
R--Recharacterized IRA contribution made for 2021 and recharacterized in 2022

How should I fix this? I plan on contacting vanguard first thing tomorrow but any guidance will be appreciated.
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David Jay
Posts: 14587
Joined: Mon Mar 30, 2015 5:54 am
Location: Michigan

Re: Vanguard 1099-R Error

Post by David Jay »

February 2022 would still be in the 2021 tax year (through April 15, 2022 for IRA contributions). So "R" seems to be correct.
It's not an engineering problem - Hersh Shefrin | To get the "risk premium", you really do have to take the risk - nisiprius
Katietsu
Posts: 7677
Joined: Sun Sep 22, 2013 1:48 am

Re: Vanguard 1099-R Error

Post by Katietsu »

Was the contribution for the 2021 tax year or for the 2022 tax year? In February of 2022, you could have made either.
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