I have a very similar situation with with a SEP IRA 2024 excess contribution. My 1099R has the P distribution code only. And of course Turbotax 2024 says that I must amend my 2023 tax return. I took the excess contribution and interest/earnings as a distribution prior to April 15, 2024, per calculations by the brokerage firm, so at least I was compliant .
I think from the above reply I understand how to amend the 2023 tax return (create a 1099R for the amended 2023 form and answer all the questions). What I don't understand is whether or not I should delete the 1099R that downloaded into Turbotax 2024. Should I? Or will it be ignored (not counted as 2024 income due to the P code)?
