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Retirement tax questions
If box 2a shows $0 as taxable and there is no tax withholding, entering a code-8J Form 1099-R into TurboTax only causes TurboTax to prompt for an explanation of the return of contribution. Since the contribution returned was a 2021 contribution (you'll want to verify that with your IRA custodian or Forms 5498), the explanation is required with your 2021 tax return, not your 2022 tax return. You must omit this Form 1099-R if it causes TurboTax to include an explanation statement with your 2022 tax return.
‎April 13, 2023
6:04 AM