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Should I amend my 2019 tax return since I got a 2020 1099R form on 4/1/2021 from a old employer?

I over contributed $4,104 into my former employer 401k account in 2019, because my older employer was purchased by an another company, and they didn't realize the over contribution until 11/2019. Fidelity return the $4,365 excess contribution to me in 2019, and send me a 2019 1099 R form with a distribution code E, which I include this  2019 Fidelity 1099 R when I filed my 2019 taxes(I know the $4,365 was counted as taxable income since the amount was listed under my 2019 1040 4d box). The difference between $4,104 and $4,365 was earning from investment. Now, forward to today(4/1/2021), my old employer reach out to me and send me a 2020 1099R from with distribution code of P with the amount of $4,104. I think my old employer made mistake here since I already include this taxable income under 2019 tax return. Well, I still enter this 2020 1099R form information in Turbotax since I am still doing my 2020 tax return. The Turbotax told I might need to amend my 2019 tax return. Which I don't think I need to. I think my old employer should have send me 2019 1099 R with distribution code 8 in the year 2020 since the excess contribution was took out the same year it was contributed in 2019. I am worried that IRS might think I didn't include this income in 2019 tax return. What should I do now? ask my old employer not to send this 2020 1099 R to IRS or nothing to worry about since I can approve I include the excess contribution already in 2019 tax return and I have distribution paperwork from Fidelity to back me up here? Will IRS audit me by send me a letter asking about this in the future?
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2 Replies

Should I amend my 2019 tax return since I got a 2020 1099R form on 4/1/2021 from a old employer?

Contact the plan trustee for an explanation.  You do not report the excess twice.   

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

Should I amend my 2019 tax return since I got a 2020 1099R form on 4/1/2021 from a old employer?

A code P affects your 2019 tax return,

(the box 2a taxable amount should be 261)

but you already included that amount on your 2019 tax return.

So there is nothing to do.

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