98_autumn_34
Returning Member

Retirement tax questions

Hello,

 

I have made excess contribution in the current year, and will get excess amount refunded next year. The excess contribution is made with after-tax dollars, but company match for the same is considered before tax.

 

1. Will I need to pay tax and/or penalty on the after-tax contribution part?

 

2. Will I need to pay both tax and early withdrawal penalty on the company match, which is pre-tax?

 

Thanks.