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After you file
Unfortunately, because you are beyond the deadline to remove the overcontribution for 2022, amending your 2022 tax return will not affect your taxes at all. Any excess contributions should have been removed by the April tax deadline of the following year, or in this situation, April 18, 2023.
You will be taxed in the year that the correction is made, which appears to be 2024 based upon your question, as well as on any earnings that occur during the years that the overcontributed funds remained in the 401(k) plan account. If you are under 59 1/2, you may be subject to the additional 10% early withdrawal tax.
Please see this IRS link for more details.
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May 10, 2024
7:46 AM