Can i just add the income back to the 2016 W2 with out having to worry about getting a 401k distribution in 2017?

[marmart]

 Changed companies and have excess contributions to 401k in Dec 2016?  However, the deposit to new account was not made until Jan 2017, even though the monies were taken out in 2016.  So, can i just add the income back to the 2016 W2 with out having to worry about getting a distribution in 2017?  Do I need an amended W2?

[dmertz · Accepted solution]

To do this, you would enter it under Less Common Income -> Miscellaneous Income, 1099-A, 1099-C -> Other income not already reported on a Form W-2 or Form 1099-R.  Answer Yes to "Did you receive any other wages?"  Answer Yes to "Did you earn any other wages?"  Select Other as the Source of Other Earned Income.  Enter the description and amount.

Note that this money will again be taxable when eventually distributed from your 401(k).  The excess deferral does not become after-tax basis in your 401(k) despite not having been able to exclude the excess deferral from income.