Get your taxes done using TurboTax

No, that is not a typo, the Form 1099-R needs to be reported on your 2023 Tax Return.  You can save yourself the trouble of filing an Amendment next year when you receive the 2024 1099-R by reporting it on your return now.  To do so, you will create a "mock" 1099-R and then you can just ignore the 1099-R when you receive it next year.

To create a Form 1099-R in your 2023 tax return, please follow these steps:

1. Sign in to your TurboTax account and open your return
2. Select Federal from the menu, then Wages and Income
3. Scroll down and click on Retirement Plans and Social Security: 1099-R, IRA's, 401(k), early withdrawals
4. Click on Start/Revisit next to IRA, 401(k) Pension Plan Withdrawals (1099-R)
5. Answer Yes to Did you get a 1099-R in 2023?"
6. Select I'll type it in myself
7. Enter the 1099-R provider's info and click Continue
8. For Box 1 Gross Distribution, enter the total distribution (contribution plus earnings)
9. For Box 2a Taxable Amount, enter the earnings
10. For Box 7 check the box I have more than one value in Box 7 and enter J and P (Note: Code P will indicate in the drop-down menu that it is for "Return of contribution taxable in 2022" but you can ignore this since the follow-up questions will tell TurboTax that it is taxable in 2023)
11. Click Continue
12. If you come to the screen Is the IRA/SEP/SIMPLE box on this 1099-R checked, choose NO, the box is blank
13. On the screen Which year on Form 1099-R enter that this is a 2024 Form 1099-R
14. Click Continue after all 1099-R's are entered and walk through the interview questions
15. Continue until you get to the screen Did you use your IRA to pay for any of these expenses? and enter the amount of earnings under Corrective distributions made before the due date of the return