@urlreader wrote:
I mean without releasing the excess, how can I report the tax change in 2018 in this case? any forms?
You can't withdraw the excess. It's part of your retirement and that can't be changed.
If you paid income tax on the excess contributions on your 2018 tax return, you are done. There is nothing more to do. The excess is in your account and will be taxed again when you withdraw it. If you withdraw before age 59-1/2, you will also pay a 10% penalty.
If your contributions were properly reported on your W-2 from both jobs, and if you used tax software to file your return, the payment of tax on the excess contribution should have been automatic. You would need to review your 2018 tax return and W-2s to confirm this, do you have copies?
If you filed by hand and did not report the excess, you have two options. Since it is past the 3 year statute of limitations, you can ignore the problem and figure that the IRS didn't catch you and now its too late. Or if you want to pay the tax anyway, you will need to tell us how you filed in 2018 so we can advise you on filing an amended return.
But, you probably paid the tax in 2018, check your tax return. See if your line 1 taxable wages are equal to the box 1 wages in both W-2s PLUS the excess 401k amount, or if line 1 is only the total of your W-2s.
