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Get your taxes done using TurboTax
So long as the corrective distribution was (will be)made before April 18, 2022, you can ignore the 1099-R for the excess in 2022 (it will have a code of "P", I believe).
This is because the excess was already taxed in 2022 when you went through the steps Minh gave above to add 2021 Excess 401K Deferrals to Misc income.
Your excess can be doubly taxed (the second 1099-R) if you receive the corrective distribution after April 18, 2022, but since you are already going to have it taxed in 2022, you can ignore the second 1900-R.
Just keep all these notes in your tax file in case the IRS ever writes you about it.
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‎February 28, 2022
7:04 PM