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Steps to Take to Remove an Excess Salary Deferral
As a result of getting a new job, my wife put $447.58 over the allowed amount into her 401k. The TurboTax instructions say: "Report the excess deferral on your 2019 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 2020 Form 1099-R."
I'm good with all that except the last statement. How do I indicate, "that this is a 2020 Form 1099-R?"
March 22, 2020
2:53 PM