I had an excess 401(k)contribution in 2006 because of a failed ADP test, and the refund was paid by March 15, 2007. In January 2008, I will receive a 2007 1099-R with code P (taxable in 2006). Would there be any penalty if I waited until I received the 1099-R in January 2008 and then paid the tax by filing a 1040x for 2006?
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