@RobertB4444 wrote:
Code 8 is 'Corrective refunds taxable in current year.' No 5329 needed.
But it was not just code"J", it was code "8J" and box 2a can have taxable earnings that were returned and the code "J" means that the the owner is under age 59 1/2 so it can be subject to an early distribution penalty requiring form 5329 unless there is an exception to the penalty or the owner is over age 59 1/2.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
