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Retirement tax questions
Hi,
I have very similar situation for contribution made in 2019 and withdrawn in January 2020 and my brokerage will provide 1099-R only in 2021. Here are few questions I have :
1) For Box 7, the suggestion is to use codes P and J. Why use P (Return of contribution taxable in 2018) while code 8 (Return of contribution taxable in 2019) seems correct?
2) For the question "Which year on form 1099-R?" I have to select 2020. Is that correct? I am getting a prompt to amend 2018 return when I select 2019 instead of 2020.
3) Do I also have to file Form 4852 by selecting "Need to prepare a substitute 1099-R"?
March 22, 2020
11:56 PM