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Retirement tax questions
The original W-2 has already been provided to the IRS by your employer, so you must enter the original W-2 as received so that agrees with what has already been provided to the IRS. The W-2 must reflect the state of your employee contributions as of December 31, 2023. The plan will use Form 1099-R to report to you and to the IRS the corrective distribution that occurred in 2024, so the IRS will know that the excess contribution was corrected.
March 26, 2024
4:24 AM