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Retirement tax questions
Thank you for your response. To confirm, this is a 401K and not an IRA. I overcontributed by $102.45. My check (the overcontribution plus earnings) is $127.93. If the funds were redrawn from the Traditional 401K (even though the excess was in my Roth 401K), am I still only putting the earnings of $25.48 ($127.93 - $102.45) in box 2A?
For 7, its a dropdown, so if I select P, it automatically says "Return of contribution taxable in 2018". I dont see an option to choose for 2019.
For 7, if I select J its specifies Roth IRA, but its a 401K.
I appreciate your response. Let me know if anything should be adjusted. Thanks again!
‎February 15, 2020
6:26 AM