My non-profit employer has a limit on 401k contributions by highly compensated staff that depends on the total contributed by all employees. I received a 1099R for $2091. Do I have to pay a penalty

If you over-contributed to your 401K and received a 2020 1099-R, you need to report the Excess Contribution, depending on the Code in Box 7. 

 

Click this link for info on How to Enter a 1099-R.  Pay close attention to the follow-up question after you enter your 1099-R.

 

Any excess 401k contributions returned before the end of the current tax year should be covered in a 1099-R from the 401k for the current tax year and enter as a 1099-R in Turbo Tax.