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sharpant
New Member

Excess 401k contribution is correctly showing up in line 7, but is not called out explicitly anywhere else.

Hi,

My wife made excess 401k contribution in 2018 due to job change. We got a refund for the excess amount in March'19. 

I followed the instructions in the below forum to report my excess 401k contribution. The correct amount is making its way through to line 1 and line 7, but it does not call out "Excess 401K Deferrals" in Schedule 1 or anywhere else. Is this fine?

I e-filed the tax returns. Should I file an amendment?

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1 Best answer

Accepted Solutions
Rachel_W
Expert Alumni

Excess 401k contribution is correctly showing up in line 7, but is not called out explicitly anywhere else.

No, you do not need to file an Amendment.  

As long as your wife's excess 401(k) contribution was included on Line 1 of your Form 1040, there is nothing else you need to do.

There is no need to include a description next to line 1 as the IRS has all the information they need by matching your Form 1040 with your W2s.

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2 Replies
Rachel_W
Expert Alumni

Excess 401k contribution is correctly showing up in line 7, but is not called out explicitly anywhere else.

No, you do not need to file an Amendment.  

As long as your wife's excess 401(k) contribution was included on Line 1 of your Form 1040, there is nothing else you need to do.

There is no need to include a description next to line 1 as the IRS has all the information they need by matching your Form 1040 with your W2s.

sharpant
New Member

Excess 401k contribution is correctly showing up in line 7, but is not called out explicitly anywhere else.

That is great! thanks TurboTaxRachelW.
I wonder why they asked us to add a description in the below forum as it does not make its way into anywhere in the tax returns document.
<a rel="nofollow" target="_blank" href="https://ttlc.intuit.com/questions/4416797-how-to-report-excess-2017-401-k-contributions-on-the-2017-...>

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