Good content and thanks for your time. I am confused regarding how to treat the excess contribution.
By withdrawing all the excess contributions made by my employer prior to the tax deadline, Form 8889 shows the taxable amount to be calculated as "0" on Line 16. It also appears to negate the need to complete Form 5329 to calculate the 6% penalty.
Once I have completed Form 8889, does TT automatically add the excess contribution (shown in W-2 Box 12 Code W) to my taxable income or do I need to include it as "other income" on Form 1040, Sched 1, Part 1, line 8f?
Thanks again for your time and insight!
