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Retirement tax questions
@DanaB27 TT gave me a "warning" about amending prior year (2022) return (please see attached screen shot). My earnings on this 2022 excess contribution was a loss due to value of shares decreasing. So I contributed $7K in Jan 2022 and my distribution (March 2023) was $5900.
The 2023 Form 1099R also had code P--Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2022 in box 7. Do I need to amend my 2022 return for any reason?
March 16, 2024
8:10 AM