@Bakdawgs wrote:
My wife was caught with a change of jobs and slightly over contributed to her 401k(s). And turbo tax does have the mistaken information I was going on to withdraw the excess. I was told 4/15 by the 401k administrator as well but had been relying on Turbo Taxes' information. Its a hyper link that you can click on to pop up more information when it goes to check your retirement contributions and contains steps to take to make the correction before 5/17. I thought we had plenty of time, at least until the new tax deadline as well because of this information. To my disappointment the 401k administrator is correct with 4/15. This does make me wonder what else Turbo Tax may have incorrect in their software?? I've use them for 30+ years too. I was hoping to reach them directly but can't find a direct contact method.
Where do you see that in TurboTax?
Excess IRA contributions can be returned up to the due date (or extended due date). 401(k) is set by law to be 4/15.
**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.**
