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Get your taxes done using TurboTax
Yes, if the received 2022 Form 1099-R is different than what you had reported on your 2021 return then you will need to amend your 2021 tax return. Delete the substitute Form 1099-R entry and enter the 2022 Form 1099-R with the code P you received.
Please be aware, code P will say in the drop-down menu "Return of contribution taxable in 2020" but you can ignore that since the follow-up question will tell TurboTax that it will be taxable in 2021.
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‎April 8, 2023
12:37 PM
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