“However, for the distribution of excess Roth IRA contributions, report the gross distribution in box 1 and only the earnings in box 2a. Enter Code J and Code 8 or P in box 7"(Form 1099-R instructions).
Please follow steps 11 and 12 from above instructions to get the exception from the 10% early withdrawal penalty.
Code P only would indicate the return of an excess deferral and list it on line 1h instead of line 4.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
