dmertz
Level 15

Retirement tax questions

TurboTax's drop-down selection and the 2024 IRS instructions assume that you are dealing with a 2024 Form 1099-R.  However, your Form 1099-R will be a 2025 Form 1099-R where code P means taxable in 2024.   A AnnetteB6 indicated, when you indicate to 2024 TurboTax that the form is a 2025 form, TurboTax will treat it as taxable in 2024.