@shung wrote:
Thank you for the clarity of your response. I did follow the guidance to report the excess as income in my 2020 tax return.
I guess TurboTax should update their Help guidance to say April 15th (and not May 17th!) as the deadline for withdrawing the excess funds.
Where does TurboTax say that about 401(k) excess? May 17 is the last day that excess *IRA* contributions can be returned.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
