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Retirement tax questions
Yes, if you didn't enter the contribution on your 2020 tax return and had no 6% excess contribution penalty calculated then you do not need to amend your 2020 tax return.
Your Form should have had codes P and J because it was for a 2020 contribution and should have been included on your 2020 tax return but since you do not have earnings it won't matter. The Form 1099-R won't be taxable since you had no earnings. You can ignore it but keep it for your records.
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March 14, 2022
5:11 AM
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