Get your taxes done using TurboTax

You cannot file Form 5329 by itself.

If you haven't filed your 2020 tax return then you can use TurboTax to file your tax return and create Form 1009-R for the withdraw of excess contribution and earnings.

To create a 1099-R in your 2020 return please follow the steps below:

1. Login to your TurboTax Account 
2. Click on the Search box on the top and type “1099-R”
3. Click on “Jump to 1099-R”
4. Select "I'll type it in myself"
5. Box 1 enter total distribution (contribution plus earning)
6. Box 2 enter the earnings
7. Box 7 enter P and J 
8. On the "Which year on Form 1099-R" screen say that this is a 2021 1099-R.

If you report it now in your 2020 return then ignore the 1099-R when it comes on your 2021 tax return unless there is Box 4 Federal Tax withholding and/or box 14 State withholding. Then you must enter the 2021 1099-R into the 2021 tax return since the withholding is reported in the year that the tax was withheld. The 2021 code P will not do anything in 2021 tax return but the withholding will be applied to 2021.

If you have filed already your tax return then wait until you get the Form 1099-R  2021 in 2022 to amend your 2020 tax return.