DianeC958
Expert Alumni

Retirement tax questions

The 1099-R should have a code JP in box 7, the returned excess amount in box 1 and if there are any earnings the earnings show in box 2a which will be taxable income on line 15b on the 1040 form and also subject to a 10% early distribution penalty if you are under age 59 1/2.   This goes on your amended 2018 tax return.  In the interview you select that it is a 2019 1099-R, not 2018.

And the 1099-R will be a 2019 1099-R received next January in 2020 (not 2019).  Nothing goes on your 2018 tax return.

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