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Retirement tax questions
Thank you, I reviewed your return. The issue with the follow-up question comes from the Form 1099-R code PJ for the taxpayer. If you remove it then you will not get the follow-up question you mentioned and be able enter the amount of earnings under "Corrective distributions made before the due date of the return" on the "Did you use your IRA to pay for any of these expenses?" screen. Then TurboTax will not calculate the 10% penalty on the taxpayer's Form 1099-R with code 8J.
I cannot see why this Form 1099-R with PJ triggered the wrong follow-up question, was it imported? Or entered manually?
For your information, you do not need to enter the 2023 Forms 1099-R with code PJ on your 2023 tax return since you did not have any tax withholdings on these forms. A 2023 Form 1099-R with codes PJ belong on the 2022 tax return but you do not need to amend your 2022 return since you stated that you created substitute Form 1099-Rs when you filed. You can delete both Form 1099-R with code PJ from your 2023 tax return.
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