Thanks
@dmertz !
Just to confirm, in this case I am technically putting the excess contributed as income twice for the traditional 401k, once in the 1099-R and once in the Miscellaneous income. Correct?
Also, I think this is what you meant by traditional, but just confirming I am only supposed to put the excess contributions to my 401k as income here and not the excess to my Roth 401k, right?
I am reading this document: <a rel="nofollow" target="_blank" href="
https://www.irs.gov/pub/irs-pdf/p525.pdf">https://www.irs.gov/pub/irs-pdf/p525.pdf</a>
On page 10 under 'Excess distributed to you.' It reads:
"If the distribution was for a 2018 excess deferral, your Form 1099-R should have code 8 in box 7. Add the excess deferral amount to your wages on your 2018 tax return."
"If the distribution was for a 2018 excess deferral to a designated Roth account, your Form 1099-R should have code B in box 7. Do not add this amount to your wages on your 2017 return."
Does that sound correct?
So I will have this input as:
- Both excess contributions on W2
- Only the traditional excess manually entered as miscellaneous income
- Both 1099-Rs input
- Both losses entered as miscellaneous income
Thank you again!
