DanaB27
Expert Alumni

After you file

No, if you didn't withdraw the excess then you won't get Form 1099-R with codes PJ and you do not need to create one.

 

Yes, you can ignore Form 1099-R with code R since it won't change anything on your return and won't show up on Form 1040.  

 

Yes, you will have to enter Form 1099-R with code 2:

 

  1. Click on "Search" on the top right and type “1099-R”  
  2. Click on “Jump to 1099-R”

 

If you converted the funds to a Roth IRA:

 

  1. Enter the information from your 1099-R
  2. Answer questions until you get to “Tell us if you moved the money through a rollover or conversion” and choose “I converted some or all of it to a Roth IRA
  3. On the "Review your 1099-R info" screen click "continue"
  4. Answer "yes" to "Any nondeductible Contributions to your IRA?" if you had any nondeductible contributions in prior years.
  5. Answer the questions about the basis from line 14 of your 2020 Form 8606 and the value of all traditional, SEP, and SIMPLE IRAs

 

@citizenkoehn

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