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Level 1
posted Feb 14, 2023 8:58:07 AM

Do I need to submit amended return if the additional info resulted in no tax owe or refund? My form 1099-R (distribution of excess contribution Roth-IRA) taxable is $0

I had excess contribution for Roth-IRA in the year 2021. I withdrew the excess amount in 2022 before the tax deadline, and my 2022 Form 1099-R field 2a is $0.00, and 2b is unchecked.

0 3 310
3 Replies
Expert Alumni
Feb 14, 2023 9:07:54 AM

No. You do not need to amend your 2021 tax return for this.

New Member
Mar 20, 2023 7:49:20 PM

I had a roth IRA over deposit in 2021. I pulled the money in 2022 when filling my taxes and received checks in march of 2022. I received a 1099-R for 2022 with Taxable amount of 12.45 and 35.81 in box2a one for me one for wife. 2022 turbo tax is stating I may need to amend as  1099-r reports earnings on 2021 contribution. Do I need to do an amended return? If so how do I enter the gross distribution and Taxable amount in 2021. I looked tonight and the letters from box 7 are pj. J is early distribution from a roth, P says return of contribution made in 2022. I need to know if I need to amend 2021 and if so do I add it as a 1099-r an do I do the PJ code even though years do not match?

Expert Alumni
Mar 21, 2023 8:39:18 AM

Yes.  If  this income does increase your tax then you must do an amended return.  You would enter the income as though you did receive a 1099-R (which you will receive in 2023).

  • P—Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2021 (Use this code for Box 7 on your 2021 tax return).
  • J—Early distribution from a Roth IRA, no known exception (in most cases, under age 59½). (Should Trigger the Form 5329 Penalty).

1099-R 2023 (when received it should show the following code):

  • 8—Excess contributions plus earnings/excess deferrals (and/or earnings) taxable in 2022.