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Anonymous
Not applicable

I received a 1099R for 401k excess. The calendar year is 2018 and a P code. In TurboTax Amend, "P" is taxable income in 2016 (not 2017) Do I file this in 2018 taxes?

I'd like to know if I need to amend my 2017 Tax Return or I'm okay to file this document in my 2018 Taxes?

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dmertz
Level 15

I received a 1099R for 401k excess. The calendar year is 2018 and a P code. In TurboTax Amend, "P" is taxable income in 2016 (not 2017) Do I file this in 2018 taxes?

Code P on a 2018 Form 1099-R means taxable in 2017, so this income must be reported on your 2017 tax return, not your 2018 tax return.  If you already filed your 2017 tax return and did not already include the taxable amount shown on this Form 1099-R, you'll need to amend yoru 2017 tax return.

2017 TurboTax's drop-down text assumes that you are entering a 2017 Form 1099-R, but in the follow-up you'll indicate to 2017 TurboTax that this is a 2018 Form 1099-R.

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