So Turbo Tax told me to do this below. I am filing for 2019 return. However, Box 7 code P says: Return of Contribution Taxable in 2018.
My excess deferral is for 2019. Not 2018. Please help.
Thank you
- Report the excess deferral on your 2019 return in the Income section for Retirement Plans and Social Securitywhether or not you received a Form 1099-R before you file your return. Enter as much information as you can. Report the excess deferral amount in boxes 1 and 2a, and use code P in box 7. Indicate that this is a 2020 Form 1099-R.
5. In 2020, you will probably receive two Forms 1099-R. One reports the excess deferral amount. The other reports the earnings on the excess deferral. Enter both of these forms in your 2020 return, and we'll only add the earnings to your 2020 income.
