No, an amended return for 2024 is not needed. Follow the steps below to report your 1099-R on your 2025 tax return.
- P—Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2024 or a previous year.
Steps to enter your 1099-R 2025:
- Login to your TurboTax Account
- Click on the 'Search' on the top right and type '1099-R'
- Click on 'Jump to 1099-R'
- Answer 'Yes' to 'Did you get a 1099-R in 2025?'
- Select 'I'll type it in myself'
- Box 1 enter total distribution (contribution plus earning)
- Box 2a enter the earnings
- Box 7 enter J and P
- Click 'Continue'
- On the 'Which year on Form 1099-R' screen say that this is a 2025 Form 1099-R.
- Click 'Continue' after the 1099-R is 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'.
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