Hello,
I had excess 401k contribution between two employers in the year 2021. I withdrew excess contribution amount in early Jan 2022 and filed that $$ amount as deferral income for the year 2021 (filed before April 2022).
Now, Fidelity sent me TWO 1099-R forms, one with code "P" (for excess contribution withdrawal) and 2nd 1099-R with code "8" (for the gain on excess contribution)
Since I already included excess contribution $$ in 2021 year filing...should I ignore 1099-R with code P OR I have to file amendment for 2021?
The Turbotax software says, I have to file amendment...but in reality I think it is not needed.
Can you please clarify? If my above understanding is correct (meaning I should ignore 1099-R) then I wish Turbotax change the language and provide better explanation to avoid further confusion.
For 2nd 1099 with code 8, I have to file that as income for 2022.
Thank you for your help in advance!
