vsun
Level 1

Retirement tax questions

Hi,

Thanks for the information. 

The excess deferral is for year 2022, was issued in Dec 2022 by the 401K provider and so does it mean the ($500) loss should be reported in 2023 earnings?

I also received another notification that they made a mistake in calculation and made another payment of $386 but this was in Jan 2023. Should I report this for year 2022? or Is this applicable only in 2023?

 

Thanks!