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How to correctly report overcontribution to 401k, which was corrected before year end?
I changed jobs in 2024 and overcontributed to my 401k.
I asked my 1st job to remove the excess. They sent a check and 1099-R with codes 8 & 2. But TurboTax does not recognize it as correction of overcontribution, and asks me to take steps to correct the excess, even after I enter my 1099-R info.
I am worried my 1099-R is incorrect, because I read here that it should be code P instead.
‎February 24, 2025
8:12 PM