hchung81
New Member

401k excess contribution refund is less than what I contributed due to loss. How do I file this in TurboTax?

Due to the job change and automatic 401k enrollment with the new employer, there was an excess contribution to my 401k account. I called my current 401k account administrator and got a refund. But the amount they refunded is less than what I have contributed due to the loss on the account. For example, I have contributed $1000 over my 401k annual limit. But they issued a refund of $996 because of the loss. In this case, how do file my tax in TurboTax? Please advise.