I've seen a few different threads on this but still unsure of how to handle. Due to switching jobs in 2025, I ended up with an excess Roth 401k contribution of $292. The excess contribution happ...
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I've seen a few different threads on this but still unsure of how to handle. Due to switching jobs in 2025, I ended up with an excess Roth 401k contribution of $292. The excess contribution happened in Dec 2025. I realized it in January 2026. I notified my current employer, and a correction/reimbursement request was submitted to the 401k administrator in January 2026. Note: this is an excess Roth 401k contribution, so the $292 should already be captured as income for 2025. I received a refund check of $291 in February 2026. The check amount is $1 less than the contribution amount given losses. There is a notice accompanying the check - it states that the refund information needs to be added to my 2025 taxes. It also states that a 1099R will be sent out in next year (2027) to be filed with my 2026 taxes. Here’s the information that I received along with the check: Excess Deferrals: $0.00 Amount of Refund: $291 Contributions Already Taxed: 292.00- Taxable Amount: $0.00 Roth 401k Contribution Amount: $292 Roth 401k Earnings Amount: $1.00- Roth First Contribution Date: 2025 TurboTax has already flagged that there is an excess contribution of $292 on my 2025 taxes. TheTurboTax software suggests that I create, and enter, a substitute 1099R for my 2025 taxes. Is this accurate? If so, 1) what code do I use for the substitute 1099R that i'm creating? 2) which numbers from above go where on the substitute 1099R that I need to submit this year? Note: When I get the official 1099R next year (2027),TurboTax also suggests that I enter its information on my 2026 taxes.
