@aclsmb1smbacl wrote:
Do I need to wait for a formal 1099-R document from my brokerage to file my 2020 taxes now (March 2021)?
You can't wait to file because the code PJ 2021 Form 1099-R likely won't be issued until near the end of January 2022. Do the return of contribution, then enter the 2021 Form 1099-R into 2020 TurboTax as if you have already received it. Don't do a substitute Form 1099-R, that will prevent you from e-filing. Entering a regular 2021 Form 1099-R serves only to get the taxable gains onto Form 1040 line 4b and the explanation that TurboTax prompts you to prepare is all that is needed.
Wait to file until you have received the return of contribution so that you will know exactly how much the gains will be as of the date of the distribution of the return of contribution and can enter the exact amounts in boxes 1 and 2a of TurboTax's 1099-R form.
