DanaB27
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The correct code for the return of an Roth IRA excess contribution made in 2022 returned in 2023 should be P and J. Reportable on your 2022 return.

 

You had no taxable earnings in box 2a since you had a loss, therefore you do not have a taxable event to report. 

 

You do not need to amend your 2022 tax return since it seems you reported everything correctly when you filed the 2022 return.

 

You should contact the financial institution to see if they will correct the Form 1099-R.

 

"However, for the distribution of excess Roth IRA contributions, report the gross distribution in box 1 and only the earnings in box 2a. Enter Code J and Code 8 or P in box 7." (Instructions Form 1099-R)

 

 

 

 

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