DanaB27
Expert Alumni

Retirement tax questions

You should receive in 2021 a 1099-R for the year 2020 with a code P which stands for "Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2019". Therefore, it will have to be included in your 2019 taxes. You have two options:

 

  • Wait until you get the 1099-R and amend your 2019 tax return.
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