Where can I add form 1099 R for excess contribution to an IRA

[mceschenburg]

i made a mistake and put excess money into an IRA and need to file 1099 R

[DanaB27]

If you withdrew the excess contribution and earnings in 2021 for a contribution in 2020 then you can create a 1099-R to avoid having to amend your 2020 return when you get your 1099-R 2021 in 2022 with codes P and J (for Roth) or 1 (for traditional IRA). Please follow these steps:

1. Login to your TurboTax Account 
2. Click on the Search box on the top and type “1099-R”
3. Click on “Jump to 1099-R”
4. Select "I'll type it in myself"
5. Box 1 enter total distribution (contribution plus earning)
6. Box 2 enter the earnings
7. Box 7 enter P and J (for Roth IRA) or 1 (for traditional IRA)
8. On the "Which year on Form 1099-R" screen say that this is a 2021 1099-R.

If report it now in your 2020 return then you can ignore the 1099-R when it comes unless there is Box 4 Federal Tax withholding and/or box 14 State withholding. Then you must enter the 2021 1099-R into the 2021 tax return since the withholding is reported in the year that the tax was withheld. The 2021 code P will not do anything in 2021 tax return but the withholding will be applied to 2021.