The return of excess contribution was factored into my tax return by TurboTax. But after I filed, I don't see it listed under other income on my actual tax return.

I had put in the return of excess contribution for 403b under other misc. income. TurboTax took it and I paid tax on the amount. However, after I filed and downloaded a paper copy of my return, I couldn't find it anywhere on the tax form. I'm just wondering what's going on. I really hope the system didn't mess up. I don't want to pay tax on this again next year when I get my 1099.

131

Expert Alumni

Mar 5, 2020 8:19:03 PM

If you entered the excess contributions in TurboTax, they will show up on Line #1 of your Form 1040, added to the wages from your W-2(s). Next year, you 1099 should reflect that the income was taxable in 2019, which you will have already taken care of if you reported the excess.

Why sign in to the Community?

The return of excess contribution was factored into my tax return by TurboTax. But after I filed, I don't see it listed under other income on my actual tax return.