Guest robwgriff Posted January 3, 2009 Posted January 3, 2009 Researched and can not find a distinct answer - hoping someone could help. According to PPA Amendment, excess deferrals are now taxed in the year of distribution. I am assuming that means only one 1099r in 2009, unlike prior years where you did the "P" and "8". However, what do you do when there is a loss - do you still distribute the full amount and send a letter regarding the loss, or do you send the net amount as the refund with a letter explaining why the amount is less than the full excess deferral. Thanks for any help.
blue Posted January 3, 2009 Posted January 3, 2009 Try reading 2008 IRS Publication 525. I believe PPA changes were for excess contributions and not excess deferrals.
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