Great question
No, you do not need to enter the 2023 Form 1099-R with code JP on your 2023 return since you had no taxes withheld. For your information, if you entered the form already then you do no need to remove it since the 2023 code P will not do anything to the 2023 tax return income but it will apply any tax withholdings to 2023.
No, you do not need to amend your 2022 tax return. You do not need to enter contribution since you withdrew the contribution before the due date. You also don't need enter the Form 1099-R with code JP on your 2022 return because it will not change anything on the 2022 return since you had a loss. You had no taxable event since only earnings are taxable with the return of excess contributions. All that TurboTax would do is add an explanation statement.
The loss isn't deductible. You don't need to amend your 2022 tax return since with a loss you have no taxable income to report. All that TurboTax would do is add an explanation statement when you enter the Form 1099-R with PJ with a loss.
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