Joanna, age 44, defers $29,600 in a qualified Solo 401(k) plan in 2022.

What amount must be returned to Joanna and by what date? The $ fill in blank excess over the annual limit, along with the appropriate earnings, must be returned to Joanna by April 15 2023

In what year will the amount be taxed?

What occurs if excess contributions are made by the employer and not returned? By what date must the funds be returned?

There will be a fill in blank % tax on Joanna's employer on any amount not returned within 6 months after the close of the plan year