My husband has a similar situation due to changing jobs at the end of the year resulting in a $990 excess deferral amount for tax year 2024. He has received the excess distribution however will not receive a 1099-R prior to filing our 2024 tax return.
As I'm completing my taxes on turbo tax I'm receiving conflicting information on how to report this excess amount.
On the screen where it informs me there is an excess deferral amount when I select "What Steps do I need to take" the guide informs me "Report the excess deferral on your 2024 return in the Income section for Retirement Plans and Social Security whether or not you received a Form 1099-R before you file your return. Enter as much information as you can. Report the excess deferral amount in boxes 1 and 2a, and use code P in box 7. Indicate that this is a 2025 Form 1099-R."
I'm looking for clarification if this is reported as income for Retirement Plans and Social Security or if it is reported under "Less Common Income".
Thank you
