MinhT1
Expert Alumni

Get your taxes done using TurboTax

You should enter the 1099-R on your tax return to have the benefit of the tax withheld. 

 

You should enter both codes P and J. P meaning Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2020 and J meaning Early distribution from a Roth IRA, no known exception. You will not be taxed again on the earnings but will get the benefit of the tax withheld.

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