Extra stitch

So I was finishing up 2nd sock - just got to toe section. Realized I have one extra stitch. I had the correct number when I started the foot section. I have located where it happened but it’s halfway down the foot. So if I drop that stitch all the way down to that point then all that loose thread I am afraid it will never tighten back up. So is it a better thing to just do a decrease (like knit 2 together) I was thinking instead of this being round 1 of toe to do one more row of foot and where there are going to be decreases started in 2 rows anyway to add one extra decrease on the last row of foot. Not sure if I am explaining correctly

Yes, just add an extra decrease to the toe. As you say, do this on the row before you want to start the decreases. So usually the toe is shaped with two decreases either side of the instep and two either side of the sole. Just place a decrease on one side of the sole. On the next round, work the four decreases as usual. The extra decrease won’t be noticeable as it will fall in in line with the toe shaping.
Well done to get the second sock just about finished!

Thanks. Heading down home stretch. Will post pic when completed.