Have a situation where I contributed to my Solo 401k but business ended up taking a net loss, so contributions are being considered as excess contributions. However, in the same year I took some withdrawals that exceeded the contributions, which I believe then negates any penalty or need to withdraw excess amount. The question I have is how to report that on in Turbotax. When I import the 401k info from my financial institution, will that be offset?
Thanks in advance.
