Get your taxes done using TurboTax

DanaB27 · ‎March 30, 2025

Yes, a 2024 Form with code P and J will have to be entered on your 2023 tax return since the earnings are taxable in the year the contribution was made. Code P on a 2024 Form 1099-R states "Excess contributions plus earnings/excess deferrals (and/or
earnings) taxable in 2023."

You will select two codes P and J. If you use TurboTax Online click on "I have more than one value in Box 7".

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