DanaB27
Expert Alumni

Get your taxes done using TurboTax

No, you don't need to change your W-2. You don't get a penalty calculated like with excess contribution to IRAs therefore you can ignore the warning of the excess deferral since you took corrective actions.

 

Yes, all you need to do next year is report the earnings (if you had any) shown on the 2023 Form 1099-R with code 8.

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