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Deductions & credits
It seems you will be getting a 2024 Form 1099 R with codes P and 1 for the removal of the excess for 2023 and a 2024 Form 1099-R with codes 8 and 1 for the removal of the excess for 2024. If you like you can verify this with your financial institution.
For Form 1099-R with codes P and 1 you will follow the steps as mentioned above since it belongs on your 2023 return. The 2024 Form 1099-R with codes 8 and 1 will be entered on your 2024 tax return.
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March 9, 2024
7:16 AM