Form 1099-R current-year IRA recharacterization
For a current-year IRA recharacterization, enter the fair market value of the amount recharacterized in
box 1
, 0
(zero) in box 2a
, and code N
in box 7
. It's not necessary to enter X
in the IRA/SEP/SIMPLE
checkbox.Refer to the instructions for Forms 1099-R, 5498, and 8606, as well as IRS Publications 590-A and 590-B for precise reporting guidelines. For additional details about Roth IRA distributions, contributions, and recharacterizations, refer to IRS Notices 98-50 and 1998-39 I.R.B.
