If you haven't done so already, you will need to contact the Financial Institution holding your account to distribute the excess salary deferral.
If the excess deferral occurred in 2017, you can report the excess contribution on line 7 of your 2017 Tax Return without a Form 1099-R by following these steps:
- Click on the "Federal Taxes" Tab
- Click on the "Wages & Income" Tab
- Click on "I'll choose what I work on"
- Scroll down to "Less Common Income"
- Select "Miscellaneous Income" and click Start or Update
- Select "Other income not already reported on a Form W-2 or Form 1099" and click on Start
- Answer the Question "Did you receive any other wages? Yes
- Click through the questions until you get to "Any Other Earned Income"
- Answer Yes to "Did you earn any other wages?
- Indicate "Other" as Source of Other Earned Income and click Continue
- For the description enter "2017 Excess 401K Deferrals" and click on Done
