Rachel_W
Expert Alumni

Retirement tax questions

You are absolutely correct.  

You should report the full $1,000 in Box 2a and use "8" for Box 7.  When you receive the 1099-R next year, you can just disregard it since you have already included it on your 2018 Tax Return.

In addition, on next year's return you can deduct the $20 “Loss on Excess Deferral Distribution".

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