Solved: I contributed too much to my 401k in 2015 and then got a check for the excess in 2016. Do I need to file an addendum to my 2015 or just fill in the 1099-R portion of that number (with the category P) on my 2016?
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I contributed too much to my 401k in 2015 and then got a check for the excess in 2016. Do I need to file an addendum to my 2015 or just fill in the 1099-R portion of that number (with the category P) on my 2016?

 
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New Member

I contributed too much to my 401k in 2015 and then got a check for the excess in 2016. Do I need to file an addendum to my 2015 or just fill in the 1099-R portion of that number (with the category P) on my 2016?

You should have gotten a 1099-R this year to include the excess "contribution" distribution for your 2016 taxes. Enter the 1099-R exactly as printed on the paper form.

2016 TurboTax's drop down text assumes that you are entering a 2016 code P Form 1099-R. Code P is the correct code as long as in the follow-up questions you indicate that the Form 1099-R is a 2016 Form 1099-R.  

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New Member

I contributed too much to my 401k in 2015 and then got a check for the excess in 2016. Do I need to file an addendum to my 2015 or just fill in the 1099-R portion of that number (with the category P) on my 2016?

You should have gotten a 1099-R this year to include the excess "contribution" distribution for your 2016 taxes. Enter the 1099-R exactly as printed on the paper form.

2016 TurboTax's drop down text assumes that you are entering a 2016 code P Form 1099-R. Code P is the correct code as long as in the follow-up questions you indicate that the Form 1099-R is a 2016 Form 1099-R.  

View solution in original post

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