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Retirement tax questions
You can enter the return of excess 401(k) deferrals in the Less Common Income section:
- Open or continue with your return
- Click on Show more next to Less Common Income in the Income & Expenses section
- Click on Start/Revisit next to Miscellaneous Income, 1099-A, 1099-C
- Click on Start/Revisit next to Other income not already reported on a Form W-2 or Form 1099
- Select Yes on the next screen and Continue
- Skip to the screen that says Any Other Earned Income, select Yes
- On the next screen Enter Source of Other Earned Income, select Other
- Enter "Excess 401(k) Deferrals" as a description and enter the amount that was returned to you. See the screenshot below:
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March 7, 2022
5:12 PM