If you use the code 8, it will show as taxable in the current year as opposed to being applied to 2019. Although this may be the correct treatment, the IRS will get a copy of the form 1099-R and expect to see the income in 2019.
So, you may end up with the correct tax treatment on your 2020 tax return if you change the code, but it would be better to get a corrected form 1099-R, as that may prevent problems you may encounter down the road with the IRS.
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