dmertz
Level 15
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I think you are saying that on your filed 2021 tax return the amount of your excess 401(k) contribution (not necessarily the same as the amount in box 1 of your code-P 2022 Form 1099-R)  has not already been included on Form 1040, line 1.  If that interpretation is correct, the 2021 tax return needs to be amended to include the amount of the excess contribution as wages.  That can be done by entering it as Miscellaneous income -> Income not already reported on a W-2 or 1099.

 

Since you received a code-P 2022 Form 1099-R, I assume that the corrective distribution made no later than April 15, 2022.  If the amount distributed was less than the amount of the excess, on your 2022 tax return you can claim the difference as an amount of negative Miscellaneous income -> Other income identified as "Loss on Excess Deferral Distribution."  If there were instead gains attributable to the excess contribution that had to be distributed along with the returned contribution, you should have also received a code-8 2022 Form 1099-R that is reportable on your 2022 tax return.

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