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Ben_T
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401(k) excess deferral

I made an excess deferral into my 401k in 2023 due to one of my jobs having a variable pay schedule which makes tracking the investments very difficult. I claimed the total contribution returned ($700 principle) and ($130 interest) as "other earned income" on my 2023 return (I received both just before the April 15 deadline in 2024). This year I received two 1099-Rs (code PB for the principle) and (8B for the interest). After reading many articles I am confused as to what 1099-R (if any) I need to report on my 2024 taxes since they were BOTH reported as "other income" last year. Do I need to make an amendment to 2023 or do I report both 1099-Rs on this year's returns (2024).


Also, this happened again this year despite my best efforts to avoid it. How should I properly claim the deferrals I will receive for 2024 contributions to make my life easier when filing next year?

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