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Retirement tax questions
Yes, you will have to amend your 2018 taxes since the earnings are considered earned and received in the year the excess contribution was made. The 1099-R should have a code P—Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2018 in box 7.
Please see How do I amend a 2018 return in TurboTax?
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March 28, 2020
1:52 PM