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Get your taxes done using TurboTax
Yes, you will need to amend your 2020 tax return if you received a 2021 Form 1099-R with code PJ. Please see How do I amend my 2020 return?
Yes, the earnings will be taxable income and will also be subject to the 10% early withdrawal penalty because you are under 59 1/2.
Yes, if you had tax withholdings on your 2021 Form 1099-R then you will have to enter the form on your 2021 tax return to have the taxes applies to 2021.
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March 24, 2022
8:10 AM
6,011 Views