Solved
2021 1099-R Box 7 Code PJ
Hi,
I've exceeded the IRA limit for 2020 then withdrew the excessive amount in January 2021. However the withdrawal wasn't reflected on the 2020 1099-R form since I did it too late. But, I created a dummy 1099-R then included and reported the excessive amount on the 2020 return.
For 2021 return, my IRA company sent me a 1099-R with the code PJ in the Box 7 for the excessive contribution. Since I've already reported the excessive amount in the prior year's return should I still put the code PJ in the Box 7 or should I use something else like P or J instead?
