If you had taxes withheld then you will enter the 2023 Form 1099-R next year on your 2023 tax return because the taxes withheld in 2023 can only be applied toward 2023.
Please keep in mind you will get two 2023 Forms 1099-R:
- Form 1099-R with code P in box 7 can be ignored if you reported the excess as described above in 2022 (if this form shows the taxes withheld then you will enter it on your 2023 return but TurboTax will know to ignore the distribution amount because of the code P and only apply the taxes)
- However, the earnings on Form 1099-R with Code 8 in box 7 should be reported in 2023.
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