1. Please make sure you only enter the 2022 Form 1099-R for the conversion in the retirement section and don't enter anything in the IRA contribution section (unless you made a direct contribution for 2022). You don't need to enter the 2022 Form 1099-R with code JP on your 2022 tax return (the only exception is if you had taxes withheld).
2. The 2022 Form 1099-R with code JP belongs on your 2021 tax return and generally, you will have to amend your 2021 tax return. Generally, any earnings withdrawn with the 2021 excess contribution are taxable on your 2021 tax return. But you didn't have any earnings because of your loss therefore you don't have a taxable event to report. Adding the 2022 Form 1099-R with code JP would only create an explanation statement for the IRS but not change your taxable income. Therefore, you don't need to amend your 2021 tax return.
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