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You must include the excess deferral in your wages in the year the excess deferral happened.
Please follow the steps below:
If you receive the distribution of the excess deferral and earnings by April 15th then please note for the Tax Year 2024 tax filing due April 15, 2025:
Two 2024 Forms 1099-R will be issued reporting the excess.
Please see Pub 525 for additional information.
You must include the excess deferral in your wages in the year the excess deferral happened.
Please follow the steps below:
If you receive the distribution of the excess deferral and earnings by April 15th then please note for the Tax Year 2024 tax filing due April 15, 2025:
Two 2024 Forms 1099-R will be issued reporting the excess.
Please see Pub 525 for additional information.
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