Balak
Returning Member

Retirement tax questions

Thanks so much. Any recommendations on how to enter the excess on TurboTax? There are discussions that there are 2 ways to enter- 

 

1. Create a form 1099-R and enter excess in box 1, 2a and use code P for box 7

 

2. Miscellaneous Income >> Source of income (other) 

 

Any preferred way for folks who will not be able to withdraw the excess from their 401k’s?