Question - my client contributed in excess to his 401k in 2019. Turbotax caught the excess and i picked it up manually as taxable income on the 2019 tax return. The 401k administrator issued a 2020 1099-R with the distribution amount in box 1 and box 2a and listed code 8 as the distribution code.
Since i already picked up this amount as taxable income on the 2019 tax return, do I also pick it up again on the 2020 tax return? Do I ignore the 1099-R (put a statement in the tax return stating it was picked up in 2019)?
