Yes, that is correct, say the Form 1099-R is for 2025. That is because the actual form you receive next year will say 2025 on it. The code "P" in box 7 says the taxable amount belongs in the year before the year listed on the Form 1099-R, so that is why you need to indicate it is for 2025.
@harnerwil
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
