a

[BrianStoffel]

a

[DavidD66 · Accepted solution]

There is another option:  Report the income on your tax return even though it's not included in your W-2 and you're not going to get a corrected W-2.  To do so:

• Select "Income & Expenses"
• Scroll to the bottom of the screen to "Less Common Income" and click on "Show More"
• Next to " Miscellaneous Income, 1099-A, 1099-C" select "Start" or "Revisit"
• Select " Other income not already reported on a Form W-2 or Form 1099"
• Answer Yes to "Did you receive any other wages?"
• Click through to "Any Other Earned Income" and answer Yes to "Did you earn any other wages?"
• Mark the button next to "Other" for Enter Source of Other Earned Income
• Provide a description such as "Return of Excess 401(k) deferral" and the amount.

[BrianStoffel]

@DavidD66 Just so that I understand, I should enter a negative number for the amount of return of Excess 401(k) deferral? 

[DanaB27]

You will enter a positive number.

Please note for the Tax Year 2022 tax filing due April 15, 2023: 

2022 Forms 1099-R will be issued reporting the excess.

• Form 1099-R with code P in box 7 can be ignored if you reported the excess as described above in 2021. 
• However, the earnings on Form 1099-R with Code 8 in box 7 should be reported in 2022.

[Edited 3/16/2022 | 7:10am PST]

@BrianStoffel 

[Ebony69]

Hi, how do I fill out the 1099-R Payer's name, address and Federal ID without receiving the 1099-R yet for the excess contribution? Can I leave all these blanks and still can do e-file? The review keeps popping up the errors that said I need to enter the info in. 

[DanaB27]

You will enter your financial institute name and address. You can contact your financial institution to get the Federal ID. 

@Ebony69