Code P on a 2023 Form 1099-R indicates an amount that must be reflected on your 2022 tax return. Assuming that it includes no tax withholding, 2023 TurboTax will properly ignore the entry of this Form 1099-R other than to inform you that the income was required to be reflected on your 2022 tax return where the excess contribution should have been included on Form 1040 line 1h.
