Hello
I changed jobs in 2023 and as a result my deferral contributions exceeded the allowed limit for that year for 403b and 457. I noticed this when I was filing for taxes in early 2024 (for the 2023 tax year) and I asked for a withdrawal of the excess. I got 2 check but I did not get 1099-R forms on time, so I filed the amounts as a "pretend" 1099-R per turbotax guidance, and used a code P for each amount (2 forms) in the 1040 I filed in Feb 2024 (for tax year 2023). Now this January 2025 I received 1099-R for the 403b amount (it says 2024) and a "W2" for the 457 amount from the account manager (not from the employer) that also says Tax year 2024. I did not get a 1099-R for the 457 amount. I called the account manager and I was told that W2 form is the correct one because the excess came from a 457 account. My questions are:
- Do I need to amend the 2023 tax year return (that I filed in Feb 2024) to include the W2 form and amount I received for the excess 457 deferral?
- Do I include the W2 form for this 2024 tax filing, even though I already included that amount last year (although I used a 1099-R)?
- Do I need to include the 1099-R I received this year for the 403b in my 2024 tax filing, even though I already included that amount and form in my 2023 tax return?
- In case I need to amend the 2023 return, do I need to wait for the amended return to be accepted before I file the 2024 tax return?
Sorry for the long question, appreciate the help,
Thanks
