The page I am on says "Explain the Return of an IRA Contribution". I didn't yet it says I said I did. Where do I correct that?

Forum|Forum|5 years ago
March 6, 2021
3 replies
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TurboTax Self Employed Online

DanaB27

Employee Tax Expert

Did you enter a 1099-R 2020 with either code 8 or create a 1099-R 2021 with code P? This will trigger the "Explain the Return of an IRA Contribution" statement page. If you did not withdraw a 2020 contribution then please check your 1099-R entries:

Login to your TurboTax Account
Click on "Search" on the top right and type “1099-R”
Click on “Jump to 1099-R”

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fanfare

Level 15

what ever you did do, enter that.

be brief.

Include dates and amounts.

enter "No Comment".

dmertz

Level 15

You have not entered the Form 1099-R exactly as provided by the payer. Assuming that this is a distribution from an IRA (IRA/SEP/SIMPLE box marked), box 2a must contain the same value as is in box 1.