Sign Up

Why sign in to the Community?

  • Submit a question
  • Check your notifications
or and start working on your taxes
cancel
Showing results for 
Search instead for 
Did you mean: 
meghan908
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?

 
1 Best answer

Accepted Solutions
MichaelDC
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

1 Reply
MichaelDC
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

Dynamic AdsDynamic Ads
Privacy Settings
v