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How to report 401(k) excess contribution made in 2015 and included in my 2015 return but now receiving a 1099-R for 2016?
An excess contribution was made in 2015 to my 401(k) acct through work. I was notified of the excess in January 2016 and was provided the dollar amount of the overage. When I filed my 2015 taxes I included this amount in the overall wages so was taxed on it as normal income. A month later I received a disbursement. Both Federal and State taxes were withheld. This January I received a 1099-R listing the disbursement and taxes withheld. I've entered the 1099-R into my 2016 tax form, but I'm wondering where I can mark this as an exception so that I don't get taxed a second time and to possibly get back some of the withheld taxes?
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‎June 4, 2019
3:20 PM