Level 7
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Retirement tax questions

You want to enter the amount of your excess contributions under Miscellaneous Income, not in the 1099-R retirement section.  Follow these instructions to claim this income in 2017.  You will disregard the 1099-R next year since you will be claiming the income correctly this year. 

  1. Delete the 1099-R you entered first
  2. Click on Federal (left)
  3. Click on Wages and Income (top)
  4. Scroll down to "Less Common Income"
  5. Select Miscellaneous Income and click Start or Update
  6. Select "Other income not already reported on a Form W-2 or Form 1099" and click on Start
  7. Answer YES to the Question "Did you receive any other wages?  
  8. Click through the questions till you get to Any Other Earned Income
  9. Answer YES to "Did you earn any other wages?
  10. Indicate "Other" as Source of Other Earned Income and click Continue
  11. Enter the amount from your 2018 1099-R coded 'P'
  12. For the description enter "2017 Excess 401K Deferrals Returned" and click on Done