I found out that my previous employer didn’t limit the contribution to my 403b plan which resulted in excess contribution of $4000
i left that employer in February 28 , 2025 and I am currently self employed
I moved all the balance in my 403b account to my own SEP account with fidelity
I haven’t filed taxed for 2025 yet
how to correct this excess and how to report it in TurboTax
You'll need to sign in or create an account to connect with an expert.
I don't have an answer...but you need to be clear and post which year the overcontribution occurred in.
1) Was the overcontribution in 2024 or 2025? (seems difficult for it to be for 2025, though maybe not impossible).
2) No one can file 2025 taxes yet. So, did you file 2024 taxes yet? if the overcontribution was actually in 2024, then that tax year may be affected, not 2025.
Followup:
More information provided by OP in a re-stated new Question at:
Excess contribution to 403b plan
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
Hesoukieh
New Member
Hesoukieh
New Member
user17640170538
Returning Member
dsyhome0510
Level 3
ChickenBurger
New Member