I mistakenly over contributed to my 401k plan for 2022. I caught this mistake before the end of the year and had the excess deferral withdrawn in December of 2022. In January, I received a 2022 1099-R from the plan manager (Fidelity) that is less than what I originally contributed because my contribution lost value while invested in the plan. Do I need to enter both the 2022 1099-R (Distribution code 😎 and the excess deferral (entered as miscellaneous income) on my 2022 tax return?
Thank you for your help.
