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I received a 2023 1099-R with code P. I am amending my 2022 return, but the code P description in TurboTax does not match the form.

Code P on form is Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2022.
Code P in TurboTax 2022 is Return of contribution taxable in 2021.
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1 Reply
BillM223
Employee Tax Expert

I received a 2023 1099-R with code P. I am amending my 2022 return, but the code P description in TurboTax does not match the form.

These are the same thing. The description in TurboTax 2023 is just more expansive..

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