Thank you, DanaB27.
I am confused by this statement - 2022 Form 1099-R with codes P and J will have to be entered on your 2021 tax return as shown on the form if you didn't create the Form 1099-R when you filed the 2021 tax return
I receieved this 2022 1099 form early this year (2023) and did not have this when I filed my 2021 return. So none of this was reflected in my 2021 taxes. So what do I do now?
To clarify, this excess contribution was into an After-Tax account. In other words, it was after tax monies (first step of mega backdoor Roth before the money was rolled-over into the Roth). The excess wasn't from a TIRA or anyother retirement account. I was told that I need to create a 1099 as an administrator to notify the IRS about this excess contribution. Is that not correct?
Or can I just leave this out since it is reflected in the 1099-R I received from the custodian for the removal of the rolled over funds from the Roth?
