Thanks for this! Once I receive a 1099-R Would I use any of the 1099-R details in 2024 tax year?
I had read in another community post:
If you receive the distribution of the excess deferral and earnings by April 15th (which I did) then please note…
- Form 1099-R with code P in box 7 can be ignored if you reported the excess as described above in 2023. (Roger can ignore and follow your instructions on reporting)
- The earnings on Form 1099-R with Code 8 in box 7 should be reported in 2024. (Does this still hold true if I self report sans 1099-R this year? Do I still need to report next year?)
I plan on filing an extension on 2023 taxes due to an entirely different reason. Wanted to add that if it makes any difference.
