Entering the 1099 r

[purasd]

Which codes do I enter on Box 7? I'm trying to create a 1099r for a traditional IRA excess contribution made on 2023

[dmertz · Accepted solution]

Code J has nothing to do with a distribution from a traditional IRA.

If in 2024 you received a distribution of an excess traditional IRA contribution made in 2023 and need to enter the Form 1099-R before actually receiving it next year, the correct code is P on a 2024 Form 1099-R with the IRA/SEP/SIMPLE box marked.  (If you received this corrective distribution in 2023, you will already have received the code 8 2023 Form 1099-R that you must enter).