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How do I report loss on excess 401k contributions? I over contributed to my 401k. With declining market, value of my withdrawal is lower than my initial contributions.
How do I report the loss and write off this loss on TurboTax? For example, i over contributed $5000. During the market decline, that initially $5000 excess is now worth $4000 upon withdrawal of excess contribution. Thanks
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‎July 5, 2022
9:20 PM