@RNTAX2025 wrote:
For the Rollover IRA, number 7 is selection 2 and P. It says P is for Return of contribution taxable in 2023. Shouldn't this be 2024? Please confirm.
Thank you!
Technically yes, but that's normal in this situation. In January 2026, you will get a 1099-R that matches the substitute you are creating now, and on that 1099-R, code P will mean "return of contribution taxable in 2024", which is the tax you are paying now.
