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.
Vanguard 1099-R Error
Re: Vanguard 1099-R Error
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
Re: Vanguard 1099-R Error
Was the contribution for the 2021 tax year or for the 2022 tax year? In February of 2022, you could have made either.