- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
Retirement tax questions
Yes, excess salary deferrals not withdrawn by April 15 are taxable in 2020 and again when withdrawn. Therefore, you will have to include them on your 2020 tax return as mentioned above and when you take the distribution this amount will still be taxable income. Therefore, you will be taxed twice on the amount since you unfortunately missed the deadline.
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
May 14, 2021
9:18 AM