I'm finalizing my taxes and still struggling with how to handle this. On my 2021 taxes I did not report any contributions to a Roth or Traditional IRA. In early 2022 I withdrew the overcontribution from the Roth IRA and it generated a 1099-R for 2022 tax year with PJ codes. When I select those codes on my 2022 taxes to report this 1099-R I get:
Code J - Early distribution from a Roth IRA
Code P - Excess contribution/deferrals taxable in 2021.
So my question is do I really need to amend my 2021 tax return considering my 2022 tax return clearly shows the Excess contribution/deferrals taxable in 2021?
If I need to amend 2021 tax returns, what exactly do I amend? Do I just need to show the Roth IRA contribution on the 2021 tax return?
