Hi @DanaB27 , thank you for your reply. The account is not completely empty, there is a small amount of money in it, around $200. I checked my yearly statement, and the account has lost $86 in value for FY 2022. In summary, I paid $1000 into the account in FY 2022 and withdrew $1750, and the account lost $86 in value (there was a loss and no earnings). Therefore, I have already removed everything I contributed in 2022 and there are no earnings to worry about. I should therefore not incur a 6% penalty. Form 1099-R reflects $1975.00 in box 1 with a distribution code of J in box 7, do I need to contact the administrator to have this corrected to reflect code P or is it ok to leave as is?
