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I have two 401k's. I maxed 401k #1, and put nothing in 401k #2. If I receive a 1099R code 8 (overcontribution) with a $15k disbursement from 401k #1, can I put it in #2?
Basically, for 2022 there is a $20,500 contribution limit across all 401k's. Does the overcontribution disbursement free up space for me to contribute to my second 401k? This all happened around the middle of 2022.
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‎January 23, 2023
5:40 PM