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@ruddyduck88 wrote:

1) I am confused. I have installed the Home and Business 2021-2022 on laptop. It says, contrary to your answer:

Code 8 is "return of contribution taxable in 2021" and

Code P is "return of contribution taxable in 2020"

Please clarify. Should I use Code 8? I have not file my 2021 return.

 

2) I have capital gain, should I report capital gain in Boxes 2a and 3?

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If a 2021 contribution then the 2022 1099-R will have a code "P" which means taxable in 2021.   Code P advances by 1 each year.    That is why TurboTax will ask if it is a 2021 or 2022 1099-R - say 2022, then it is taxable in 2021.

Code 8 is a return of the 2021 contribution  returned  *in* 2021 and a 2021 1099-R was received.