I had two employers in 2023 and mistakenly had an excess deferral to my 401k of around $920. I just noticed this a few days ago and have been advised by both plan administrators that I missed their deadlines to request a proper refund of the excess contribution. So instead, I've asked to make an 'early' withdrawal in this amount from the more recent plan (where the excess deferral was essentially made). Federal taxes will be deducted from the withdrawn amount. I won't receive any 1099-R pertaining to the withdrawal until next year, but as I'm doing this before April 15, I'm assuming I can/should indicate the withdrawal and tax withholding on my 2023 return. Is that correct? Can you guide me on how to appropriately account for all of this on this year's return?
Thank you so much.
