Sollo 401k Over contribution options

[sgb4383]

In the first week of March 2024, I made a deposit to a solo 401K for TY2023. A few days later I realized I miscalculated and contributed too much.  The total is more than my 2023 income permits, but well below the annual maximum contribution allowed.  Question: Is my only option to request an excess contribution withdrawal or can I report the correct contribution on my 2023 taxes and designate the remainder as a 2024 contribution?  I already have enough 2024 income to allow the amount I would count towards 2024.

According to my brokerage, their computer system only allows the contribution to be marked in their system as a 2024 contribution regardless of what year I use it for.

[MarilynG1]

If your brokerage will only allow your March 2024 contribution to be designated for 2024, how can you make a 2023 contribution in their system?  Or can you?

At this point, it sound like your contribution is not an excess contribution for 2023; it's only a 2024 contribution.

If you can clarify with more details, we'll try to help.

Here's more info on Excess 401K Contribution.