1040-US: 1099-R distributions with code P reported on previous year's return

Alerts and notices

Question

Why are 1099-R distributions that are coded P not on Form 1040?

Answer

If, in the current tax year, a client receives a Form 1099-R distribution with code P, it must be reported on the client's previous year's tax return.

Code P - Excess contributions plus earnings / excess deferrals taxable in 2017.

Related topic: Individual retirement account FAQs (1040)