DanaB27
Expert Alumni

Get your taxes done using TurboTax

TurboTax will always add an explanation statement when you enter Form 1099-R with codes J and P. You will enter as the explanation that you removed the $7,000 excess contribution for 2022 with a loss of $$$$. 

 

If you have further questions you can tag me @DanaB27 and I will be happy to assist.

 

@Ken180 

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