No, if your 2024 Form 1099-R has codes P and J for the return of an excess Roth IRA contributions plus earnings then the earnings have to be reported on your 2023 return (IRS).
Please see How do I amend my federal tax return for a prior year?
- Click "Wages & Income" (under Federal) on the left
- Scroll down and click "Show more" next to "Retirement Plans and Social Security"
- Scroll down and click "Start" next to "IRA, 401(k), Pension Plan (1099-R)"
- Enter Form 1099-R
- On the "Which year on Form 1099-R" screen say that this is a 2024 Form 1099-R.
- Click "Continue" after all 1099-R are entered and answer all the questions.
- Continue until "Did you use your IRA to pay for any of these expenses?" screen and enter the amount of earnings under "Corrective distributions made before the due date of the return".
Please be aware, code P will say in the drop-down menu "Return of contribution taxable in 2022" but you can ignore that since the follow-up question will tell TurboTax that it will be taxable in 2023.
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