DanaB27
Expert Alumni

Get your taxes done using TurboTax

It seems you received 4 2022 Form 1099-R. The Forms 1099-R with codes J and P belong on your 2021 tax return (as Opus17 mentioned). Therefore, if you didn’t enter Forms 1099-R with codes J and P on your 2021 return then you will need to amend your 2021 tax return to enter them.

 

 

The 2022 Form 1099-R with codes 8 and J indicates (as Opus17 explained) that you removed a contribution for 2022 in 2022. If this is the case then this will be entered on your 2022 tax return. Only the earnings will be taxable and subject to the 10% early withdrawal penalty (if you are under 59 1/2). Please double-check if this Form is correct. If it was the regular distribution for the 2020 and 2019 excess then it should only have code J, not 8 and J, and will need to be corrected.

 

 

The 2022 Form 1099-R with code J is for the regular distribution of the 2019 and 2020 excess and will be reported on your 2022 tax return. Please make sure you include the 2019 and 2020 excess in the net contributions when TurboTax asks:

 

  1. Login to your TurboTax Account
  2. Click on "Search" on the top and type “1099-R” 
  3. Click on “Jump to 1099-R” and enter all your 1099-Rs
  4. Click "Continue" on the "Review your 1099-R info" screen
  5. Answer all the questions and make sure you enter the net contributions prior to 2022 on the "Enter Prior Year Roth IRA Contributions" screen
  6. Answer the remaining question.

 

@sridharm 

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