Excess contribution to a 401k then rolled over into an IRA

[dmertz]

With the addition of mentioning the increase in your taxable income due to the $4,600 becoming taxable, your explanation seems reasonable to me, but of course I already understand the situation.

You need to amend to avoid the $4,600 being treated as an excess contribution to the IRA.  The law requires that nondeductible traditional IRA contributions be reported on your tax return, which is done on Form 8606.

[sunandsand2024]

Thank you!

[sunandsand2024]

Hi Dmertz, hi Opus 17 and hi other experts:

I finally got to work on the amended return in Turbotax, exactly as Dmertz and Opus 17 suggested (thank you again).

I am running into a couple of technical glitches, as I am going through the review of the amended return in Turbotax 2023; I wonder if you can advise on these as well:

a) Turbotax keeps telling me that signing with a date of today (02/13/2025) is not acceptable, as the latest date that I can use should be 12/31/2024. Why is that? And what do I do? I sign as 12/31/2024 and pass the SmartCheck or do I sign as 02/13/2025 and keep the 'errors' (indicated by the SmartCheck)?

b) I have been reading on the various blogs that TT cannot file electronically an amended return after the 'season' has closed. But technically the TT that I have (desktop version 2023) lets me go all the way to e-filing, for both Federal and California. So, can I /should I try to file the amended return with TT or should I ignore this capability offered and print and snail mail both federal and state return?

thank you thank you

[SusanY1]

You cannot e-file the amended return - and that's what the date error is about. 

You will need to print and mail the amended returns to the IRS and California.