Hello,
I am under 50 and worked for two employers in 2024. I ended up making $23,433 of Roth 401(k) contributions (total) between the two employers in 2024. I realized this in early 2025, contacted the plan administrator for one of the employers, and received a $433 check for the excess contribution and a $13.32 check for the earnings on the $433 in March 2025.
I also received a letter from the plan administrator stating that I will receive two 1099-R form in Jan' 2026:
- I understand that one of the forms will be for the $13.32 earnings to be reported as taxable income for 2025. No questions there.
- I think that the other one would show that I took out the $433 excess contribution. What do I do with this form? Do I need to amend my 2024 return? The $433 was a Roth 401(k) contribution and already included in taxable income for 2024. Should I ignore this 1099-R? Do I need to do anything now (before 4/15/25)?
Thank you for your help!
