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Get your taxes done using TurboTax
Here is how to enter the excess salary deferral in TurboTax so that the amount will appear on Form 1040 Schedule 1 line 8
Under income:
- Select 'Less Common Income'
- Then select 'Miscellaneous Income'
- Then select 'Other reportable income'
- The next screen will ask if you had 'Any Other Taxable Income?' Select Yes.
- The next screens will ask for a description and the amount.
- Enter the amount as a negative number, and the amount on line 8 of Schedule 1
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March 16, 2020
5:59 PM