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Posted

I have a tp that brought me a 1099R with code JP in box 7 (age 59). Spouse has one also with JP in box 7. However she was disabled during past 3 years and died in 2022. Contributions to the roth's has been over a period of more than 10 years.

AS I am somewhat brain scrambled, how would you report these 2 1099's? Consider that each roth basis is in excess of 57k. The withdrawal amount was less than 7k each.

Posted

Box 2 reads 0 taxable. TP and spouse did not make roth contributions in 2021. Income 2 high. Will try to touch base with broker to determine why this was even done. J indicates roth and p indicates excess contributions which does not appear to be any.

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Posted

Sounds to me like they contributed to Roth in 2021 then realized they could not due to AGI.  Since most markets were down in 2022, it's reasonable that if they had less than the 7K to withdraw.

Entering codes JP does not make anything show as taxable, does it?  

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