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Excess Distribution (over $18,500) on my 2018 401k as I switched jobs. 3/20/19 I got a Check in the mail but Fidelity said I will get a 1099-R in 2020. What do i do?
I did an over contribution and got a Excess Distribution Check (lets say $100) in March 2018.
Fidelity said there were $0 earnings on my $100 excess deferral. They also said I will receive a 1099-R reflecting these distributions in Jan-2020...."The excess deferral of $100 is taxable in 2018 and any earnings (in my case is $0) is taxable in 2019."
Do I add the $100 as Misc Income as I am now Prepping my taxes in April- 2018?
Also what do I do with the letter (1099-R) that Fidelity said I will receive in 2020. I don't want to get taxed on it again.
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‎June 1, 2019
10:04 AM