DanaB27
Expert Alumni

Get your taxes done using TurboTax

You can ignore the message since you got the excess deferral removed and entered Form 1099-R in TurboTax. Entering Form 1099-R with code 8 for the excess deferral will add the excess deferral amount to your wages on your 2022 tax return. You can check line 1 on Form 1040.

 

Please see Pub 525 for additional information.

 

Please be aware, there won't be any penalty calculated for a 401(k) excess (only for IRA excess contributions). Therefore, you can ignore the message.

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