DanaB27
Expert Alumni

Retirement tax questions

If you had taxes withheld in box 4 or 14 then you will enter the 2023 Form 1099-R with code P on your 2023 tax return since the withholdings are reported in the year that the tax was withheld. The 2023 code P will tell TurboTax to ignore the income but the withholdings will be applied to 2023.

 

Please see Pub 525 for additional information.

 

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