If you received the distribution in 2021 you will get a 2021 1099-R with code P for the excess and a 1099-R with code 8 for the earnings. Check box 4 and box 14 for the withheld taxes. Taxes are applied towards your 2021 tax return and not the 2020 tax return since the distribution and the withholding of taxes was in 2021.
If the 1099-R with code P has the taxes withheld, then you will also have to enter the 1099-R with code P on your 2021 tax return to get the taxes applied towards 2021. TurboTax will ignore the income from the 1099-R with code P but will apply the taxes withheld towards any balance due on your 2021 tax return.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
