Yes, you will need to include the excess deferral in TurboTax. Here is how!!
- Log into your account
- Select Wages and income
- Less Common income
- Miscellaneous Income, 1099-A, 1099>start
- Scroll to the bottom of the page to Other Reportable Income
- Other taxable income, answer yes
- Then give a brief description of the income and the amount listed..
- Enter this as Excess 401k deferral and then the amount of the excess deferral.
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