A 2023 Form 1099-R with coded P and J belong on the 2022 return but since you did not have any earnings shown in box 2a you do not have any taxable income to report. You do not need to amend the 2022 tax return.
A 2023 Form 1099-R with codes 8 and J will have to be entered on your 2023 return:
- Login to your TurboTax Account
- Click "Continue" after all 1099-R are entered and answer all the questions.
- Continue until "Did you use your IRA to pay for any of these expenses?" screen and enter the amount of earnings from box 2a under "Corrective distributions made before the due date of the return".
Generally, if you made contributions in 2023 for 2023 and returned them in 2024, you should have gotten a 2023 Form 1099-R with codes P and J. Then the earnings in box 2a are taxable in 2023. If this applies to your situation then you might want to check with your financial institution if they will correct the Form 1099-R.
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