Hi,
Worked for 2 unrelated companies in 2022 (a job change), and deferred $6000 to the first company's 401K plan and $22400 to the second company's 401K plan so that ended up having excess deferrals of $1400 (I am older than 500). The excess deferrals was reported to the plan after 4/15/022 (it is my oversight), and the the plan informed me that the $1400 + earning (unknown) will not be distributed until a distributable event (termination of employment or attainment of age 59½).
As my 2022 tax return has not been filed yet, in this case, where do I report $1400 in income section? is it 1h? Also, is there any code to enter for it?
Thanks!