Clarifying:
I had excess contributions in 2022 and then some in 2023. I realized this in early 2023 and the excess contributions for both years were withdrawn from my account in April 2023. I received the 1099-Rs in 2024 and they are both 2023 1099-R forms - one each for the contributions relating to 2022 and 2023. There was a small loss on the 2022 excess contributions.
Codes for 2022 distribution are J, P
Codes for 2023 distribution are 8, J
- there is also a small taxable amount on this 1099-R
- the 2023 excess contributions were removed prior to 4/15/2024
I mistakenly included the 2023 distribution on my 2023 return, so I believe I need to amend this to remove that distribution.
I *think* I need to just amend my 2023 return to remove this distribution and leave the 2022 distribution on my 2023 return and pay the penalty only on that amount. I need to make sure that this doesn't carryover to the 2024 return.
