@arenganathan1951 wrote:
okay thanks, yes 1099-R is confusing and will put in miscellaneous income.
In the cheque note says as below, i guess mine is all excess contribution and no earnings on it, and i will report this exact amount on miscellanous income. Please correct if different.
tax information
Ordingary income 100% taxabale amount 93.63
Gross Distribution 93.63
Type:Excess Deferral
Correct. Because deferrals were not included in your W-2 box 1 taxable wages, then you must report the excess as taxable wages on the 1040 line 1.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
