TomD8
Level 15

Retirement tax questions

If your contributions were made on a pre-tax basis, your employer must amend your W-2 for this year to show the excess deferral amount as taxable wages (in Box 1).

Any earnings included in the amount returned to you should be added to your taxable income on your 2020 tax return.

**Answers are correct to the best of my ability but do not constitute tax or legal advice.