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Retirement tax questions
This Form 1099-R appears to be incorrect. Only the amount of the excess deferral should have appeared on the code P Form 1099-R, which you have already reported on your 2018 tax return. You should have received a separate code 8 2019 Form 1099-R for the earnings distributed that need to be reported on your 2019 tax return.
(Earnings should only appear on a code P Form 1099-R if the distribution was from an IRA, indicated by the IRA/SEP/SIMPLE box being marked, not a from 401(k).)
The check you received should have also have included the earnings. Sounds like they made a real mess of this.
‎February 15, 2020
8:36 AM