I am 70+ of age and I retired on 1/1/2022. Prudential is managing my employer Deferred comp account (457b). As per their adivise, I deposited (26000+13000 (extra catchup) = 39000) before the end of Dec 2021.
After I reached to 26000 limit, my employer deducted additional 13000 and Prudential accepted also. Now in 2021 they refunded as excess contribution of $11977 plus earnings on it. It is not my fault. Still I didnot deposited that refund check. Please guide me what I should do? How I can report it on my 2022 return to avoid any tax or penalty. They send 1099-R for 2022
