As stated above. Code P in 2016 is for 2015. Continue and then it will ask on another screen if this is a 2016 or 2017 1099-R. Choose 2017, then code P will mean 2016 and not 2015.
You won't confuse the IRS next year since a 1099-R with a code P does not go on your 2017 tax return (unless there is box 4 or box 12 tax withheld - not common - then in addition to entering the return of contribution on the 2016 tax return, the withholding paid in 2017, it must also go on the 2017 tax return. The code P will do nothing on a 2017 tax return, but any box 4 or box 12 withholding will be added to all other withholding.) they will look on your 2016 tax return to find it and it will be there.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
