@mrohling wrote:
Hi,
When I put in code "8 - return of contribution taxable in 2020" in box 7, the software calculates an early distribution. Is there another code that refers to what you stated below?
Otherwise a "return of contribution" before the due date of the tax return should have a code 8 in box 7 (contribution returned is same year as contributed.)
thanks
Do you have a 1099-R with a code 8? What is in box 2a?
Box 2a would have any earnings that were returned and that is taxable and subject to the penalty if yiu are under age 59 1/2.
[note answer edited to add information]
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
