Yes. Follow Dana's steps above and file the amendment (if you did not add the deferrals to your wages already) and next year, enter your 2021 Form 1099-R as you see it. When you enter it, you will get a message that says ''You need to amend your 2020 return'' which you can ignore. The codes referenced in Box 7 will allow TurboTax to properly report the earnings. The code P will be ignored as it means 'excess taxable in the previous year'. Code 8 indicates taxable in the current year, which will be 2021.
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