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Retirement tax questions
I have gone through the TT questions 2 times now and am never asked if I made Excess contributions prior to 2020.
However I was looking through the codes for box 7 on the 1099-R and the TT explanations for them says: "P – Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2019".
Is it the P in box 7 that is generating the incorrect info on 5329? Something that got missed in being updated in TT?
March 7, 2021
4:46 PM