My ROTH 401K contributions for 2020 exceeds the $7,000 limit by $573. How do we know if we are getting penalized for this? If so, can we transfer the excess to 401K?
Box 12AA and 12D on W2 are $7573.37. If the Roth needs to be under $7000, can I just transfer the excess from Roth to traditional 401K?
