355066
You'll need to sign in or create an account to connect with an expert.
No, your Employer does not need to revise your W2, you should input it into TurboTax exactly how it appears, with the excess deferral to your 401(k).
You can report the refund of the excess contributions to your 401K on Line 7 of your 2017 Tax Return without a Form 1099-R by following these steps:
You will receive a 2018 Form 1099-R in 2019 with a code P in box 7 which you can ignore if the excess deferral is reported as suggested above. However, the earnings (if any) will be reported on a separate 2018 Form 1099-R with a Code "8" in Box 7 that should be reported on your 2018 tax return.
No, your Employer does not need to revise your W2, you should input it into TurboTax exactly how it appears, with the excess deferral to your 401(k).
You can report the refund of the excess contributions to your 401K on Line 7 of your 2017 Tax Return without a Form 1099-R by following these steps:
You will receive a 2018 Form 1099-R in 2019 with a code P in box 7 which you can ignore if the excess deferral is reported as suggested above. However, the earnings (if any) will be reported on a separate 2018 Form 1099-R with a Code "8" in Box 7 that should be reported on your 2018 tax return.
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.
lohia1
Returning Member
detorhawaii
New Member
cp118
New Member
Jindalanshul28
Level 1
djnicolson
Returning Member