The code JP 2023 Form 1099-R is to be entered into 2022 TurboTax by amending unless you have already reflected it there by having entered a code JP 2023 Form 1099-R as if you had already received it. When entering this form into 2022 TurboTax, be sure to indicate that it's a 2023 Form 1099-R when TurboTax asks. Any taxable amount show in box 2a represents attributable earnings that is required to be included in your 2022 taxable income. You 2022 tax return should also not show the Roth IRA contribution for 2022 that was returned, so no excess contribution penalty with respect to the returned contribution.
The code J8 2023 Form 1099-R must be entered into 2023 TurboTax.
Regardless of your age, the payer is required to use code J to indicate that the returned contribution is from a Roth IRA. The tax code has changed such that attributable earnings distributed with a returned IRA contribution are no longer subject to an early-distribution penalty, so there is no need to be concerned about having to enter the code J along with either code P or code 8.
