I understood my problem.
I actually contributed more than allowed money (19,500) last year to my 401K.
Even without rolling over to the current employer's provider, I would have gotten 2 1099-R. One for the $19,500 and another one for the excess.
What are my options here?
- Can I withdraw the excess amount and then pay the tax?
- Can I roll it over to Traditional IRA now?
- Any other option?
Thanks,
