My situation is related but not the same as the original post.
Any advice would be appreciated --
Fidelity informed me in early May 2023 that there is a return of excess contribution from my 401k contribution in 2022. In 2022, I made 401K after tax contribution with immediate Roth in-plan conversion.
In mid May 2023 Fidelity sent me a check of ~$9000. (all numbers rounded)
Documentation:
A table showing in row 1 "Total Distribution $9000, Roth = $9000 and Non Roth = $0, and row 2 "Return of Roth After-Tax Contribution" = $9000, Roth = $9000 and Non Roth = $0 .
A table showing Gross is $9000, Non Taxable is $11000, employee contribution loss is $2000, and net is $9000.
Fidelity says I'll receive form 1099-R but I haven't received it.
1. Do I report this item in 2022 tax return or 2023 tax return?
2. How do I report it in turbo tax?
3. Since the return is after tax and there was a loss, I assume I won't need to pay tax on it?
4. Can I take short term capital loss of $2000?
Thanks!
