☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
Level 2
posted Apr 17, 2025 10:07:31 PM

excess 401k contribution, how to amend for 2024? (turbotax desktop)

I read on this page, I need to select "Amend a filed return" under "need to amend a filed return?"... but I have no idea where this option is when I open up my return in turbotax desktop.

 

I can select "Check e-file status" and it tells me that my return has been accepted (and amounts previously calculated as owed have been paid). However, in early March, I got a check from my 401k administrator for an excess contribution that I'm trying to figure out how start an amendment to add it in. (looking at the statement for the check, it looks like they already withheld 10% automatically, but I assume I need to do more. 

 

 

https://ttlc.intuit.com/turbotax-support/en-us/help-article/tax-return/amend-change-correct-return-already-filed/L4VjJ9BA2_US_en_US?uid=m9mba0ek

0 2 6330
1 Best answer
Expert Alumni
Apr 18, 2025 5:43:11 AM

To clarify, are you trying to amend you 2024 return? Then please try these instructions: How do I amend my federal tax return for this year?

 

You can also try to search option on the top right:

  1. Click "Search" on the top right and enter "amend"
  2. Click "Jump to amend"
  3. TurboTax will walk you through amending your return

 

 

To clarify, you made the excess 401(k) contribution in 2024 and returned it in 2025? If yes, then you will get two 2025 Form 1099-Rs in 2026:

  • Form 1099-R with Code P in box 7 can be ignored if you reported the excess as described below in 2024. 
  • However, the earnings on Form 1099-R with Code 8 in box 7 should be reported in 2025.

 

You must include the excess deferral in your wages in the year the excess deferral happened. On your 2024 return:
 

  1. Click "Wages & Income" (under Federal) on the left side of your screen
  2. Scroll  down to "Less Common Income" and click "Show More"
  3. Scroll down to "Miscellaneous Income, 1099-A, 1099-C" and click "Start"
  4. Select "Other income not already reported on a Form W-2 or Form 1099" and click "Start"
  5. On the "Did you receive any other wages?" screen answer "Yes" and click "Continue"
  6. Continue until you get to the "Any other earned income" screen, answer "Yes" and click "Continue"
  7. On the "Enter Source of Other Earned income" screen select "Other" and click "Continue"
  8. On the "Any Other Earned Income" screen enter "2024 Excess 401(k) Deferrals" for the description, enter the amount and click "Done".

 

2 Replies
Expert Alumni
Apr 18, 2025 5:43:11 AM

To clarify, are you trying to amend you 2024 return? Then please try these instructions: How do I amend my federal tax return for this year?

 

You can also try to search option on the top right:

  1. Click "Search" on the top right and enter "amend"
  2. Click "Jump to amend"
  3. TurboTax will walk you through amending your return

 

 

To clarify, you made the excess 401(k) contribution in 2024 and returned it in 2025? If yes, then you will get two 2025 Form 1099-Rs in 2026:

  • Form 1099-R with Code P in box 7 can be ignored if you reported the excess as described below in 2024. 
  • However, the earnings on Form 1099-R with Code 8 in box 7 should be reported in 2025.

 

You must include the excess deferral in your wages in the year the excess deferral happened. On your 2024 return:
 

  1. Click "Wages & Income" (under Federal) on the left side of your screen
  2. Scroll  down to "Less Common Income" and click "Show More"
  3. Scroll down to "Miscellaneous Income, 1099-A, 1099-C" and click "Start"
  4. Select "Other income not already reported on a Form W-2 or Form 1099" and click "Start"
  5. On the "Did you receive any other wages?" screen answer "Yes" and click "Continue"
  6. Continue until you get to the "Any other earned income" screen, answer "Yes" and click "Continue"
  7. On the "Enter Source of Other Earned income" screen select "Other" and click "Continue"
  8. On the "Any Other Earned Income" screen enter "2024 Excess 401(k) Deferrals" for the description, enter the amount and click "Done".

 

Level 2
Apr 18, 2025 5:18:10 PM

Yes, it's for an amendment for my 2024 return. 

 

Can I clarify one more thing... the statement indicated that $1057 was withdrawn, and $105 was withheld for federal tax (resulting in a $952 check). 

 

Is that $105 meant to be entered somewhere in the 2024 return? Or is that something that will become part of the 1099-R for the 2025 tax year?