To clarify, the Form 1099-R has code J, the distribution amount listed in box 1 and box 2a blank? Did your financial institution explain why they issued a form for a regular Roth IRA distribution despite your request to process it as a return of excess contribution?
If you choose not to file a substitute Form 1099-R then you will have to enter the Form 1099-R has shown. Technically since this shows a regular distribution and doesn't show the earnings as removed you have to pay the 6% penalty on your 2024 return. You can only avoid the 6% penalty if you withdraw the excess contribution plus earnings.
- Click on "Search" on the top and type “1099-R”
- Click on “Jump to 1099-R” and enter all your 1099-Rs
- Click "Continue" on the "Review your 1099-R info" screen after you entered all you Form 1099-R
- Answer "Owned Any Roth IRA for Five Years?" screen
- Continue through the questions and make sure you enter the net contributions prior to 2024 on the "Enter Prior Year Roth IRA Contributions" screen
- On the "Any Roth IRA Conversions?" screen answer "Yes" if you made conversions before 2024
- Continue through the questions.
You cannot add an explanation statement without adding a Form 1099-R with code 8J or PJ.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
