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Retirement tax questions
Yes, you will need to add the 2023 Form 1099-R with code 8 and J on your 2023 return.
You do not need to pay the 6% penalty on your 2023 return since you removed the excess contribution before the due date. Please remove the contribution in the IRA contribution interview or enter on the penalty screen that you removed the excess by the due date.
You do not need to pay the 6% penalty on your 2022 return since you removed the excess contribution before the due date. If you show a 6% penalty on your 2022 return then you will have to amend your 2022 return.
Since you had no earnings on your 2023 From 1099-R with code P and J you do not need to amend your 2022 return to add it.
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‎April 12, 2025
8:42 AM