dascpa
Level 12
04-03-2024
09:58 PM
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I would plan on an extension for this client. Then I'd create (temporarily) a 1099-R from the 2nd employer and put the excess deferral as taxable income with a Code 8. The taxpayer will (eventually) receive the proper 1099-R for 2023 and then next year a 2024 1099-R for the earnings on the excess deferral.