Ryan_us
New Member

Retirement tax questions

I have same issue for my 2021 return. Basically both plan administrators don't let me withdraw. Since the excess is small it is OK for me to  be taxed twice on the amount. Now my question is how to report the excess as taxable income tax for my 2021 return?

 

It seems that the instruction Rachel_W mentioned is for the case that "you are able to withdraw the excess contribution in time", because the quote is "If you are able to withdraw the excess contribution in time, you can report the excess contribution on line 7 of your 2017 Tax Return without a Form 1099-R by following these steps: ".

 

How to report 2021 tax using Turbo tax if the plan administrators don't let me withdraw?

 

Thanks!