turbotax icon
turbotax icon
turbotax icon
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

MT2019
Returning Member

Do I need to Amend my return for 2019 -

I made an excess contribution to my IRA in 2018 and removed the excess amount prior to filing the 2018 return.  I was told by the bank at the time,  to create a  2018 1099R to account for that and pay the tax - which I did.  The bank sent me a 2019 1099r showing the transaction.  Do I need to amend my return to include the 1099r and if so - how do I make sure that it doesn't look like a duplicate.

Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

4 Replies
DawnC
Employee Tax Expert

Do I need to Amend my return for 2019 -

No, you do not need to file the amendment if you reported the 2018 1099-R on your 2018 tax return.   When you enter the 2019 1099-R on this tax return, it should not show as taxable (the codes in Box 7 will ensure this).   You will get a message that says ''you may need to amend your tax return'' but you can ignore it as you were proactive and reported the transaction on the correct tax return (20018).  

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
DawnC
Employee Tax Expert

Do I need to Amend my return for 2019 -

What are the codes in Box 7? 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
MT2019
Returning Member

Do I need to Amend my return for 2019 -

2019 - 1099R from the Brokerage house - is P return of 2018 contribution

The one I created also has P - It also has a x in the box for it being for 1099R for 2019

 

Thanks - 

Do I need to Amend my return for 2019 -


@MT2019 wrote:

2019 - 1099R from the Brokerage house - is P return of 2018 contribution

The one I created also has P - It also has a x in the box for it being for 1099R for 2019

 

Thanks - 


If the same as what you already reported on you 2018 tax return then just ignore it.   Not having to amend 2018 when you received the 2019 1099-R with the code P was the reason for created a dummy 1099-R in 2018 in the first place.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
Use your Intuit Account to sign in to TurboTax.
By selecting Sign in, you agree to our Terms and acknowledge our Privacy Statement.
message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies