I contributed to both Traditional and Roth 401k accounts through two different employers in 2015. The total contributions were over the 18k limit, and I am having the excess removed from the Roth 401k account. How do I report this in TurboTax (which did not identify the issue itself), and what tax forms should I expect to receive?
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Because the excess being distributed has already been taxed, it does not need to be reported on your tax return as income. You'll probably receive a code BP 2016 Form 1099-R for this amount with a taxable amount of zero. If you enter this form into TurboTax, it will have no effect on your tax return at all since the taxable amount will be zero. If there are also gains on your excess Roth 401(k) deferral that must be distributed as well, these will be reported on a code 8B 2016 Form 1099-R and will be taxable on your 2016 tax return.
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