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.

127

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.

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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.