DanaB27
Employee Tax Expert

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.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"