The code "P" means the distribution belonged on your 2019 tax return, so it won't affect your return for 2020.
You need to amend your 2019 tax return and enter the distribution on that tax return. To report the earnings on the excess contribution, you should enter a Substitute form 1099-R and enter it on your amended return. You will see an option for this when you see the screen Tell us Which 1099-R You Have.
Enter in box 1 the distribution amount. In box 2 enter the earnings. Enter code "P" and "J" in box 7. Work through the questions in TurboTax after you entered the 1099-R until you see a question regarding why you made the distribution, to which you will respond it was a return of an excess contribution.
Code "P" is the right code. You will pay a 10% penalty, but only on the earnings. You will have a form 5329, that TurboTax will generate automatically.
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