I have another question on Vanguard 1099R. Item 7 Distribution Code: J - early distribution from a Roth IRA
Code P - return of contribution taxable in 2020. Is that means we need to amend the 2020 tax return?
I retired on 12/31/2020 and I had earnings for the entire year. My husband should be able to contribute to his Roth IRA account up to $6,500.00. On their 1099R item 1 gross distribution is $5,361.13.
I don't understand why Vanguard told us to amend the 2021 tax return but the code P is for taxable in 2020.
Did they made a mistake or I understood wrong? Thanks.
