Hello, in FY23 my wife contributed 6K with employer-A. And then she changed her job to employer-B and maxed out her 401K with employer-B, i.e. she contributed 22.5K with employer-B. I realized this when filing taxes in the second week of April and wanted to correct this before I file my taxes. So I extended my tax filing date. Now we disbursed the additional amount 6K from her 401K account.
Since we disbursed the excess amount after the tax filing date, I believe I have pay taxes on that additional contribution amount twice, both in FY23 and FY24.
Now should I report this as additional amount (under " Other Earned Income") in FY23 filing? And then I'm assuming I'll get 1099-R next year from the employer and show the disbursed amount again when filing FY24 taxes.
