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

wenbinwang — Fri, 02 Apr 2021 02:57:27 GMT

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?

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

macuser_22 — Fri, 02 Apr 2021 03:35:48 GMT

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

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

fanfare — Sat, 03 Apr 2021 02:45:30 GMT

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.

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

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

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

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