I made excess contributions to my 401K (job change). How do I account for this? Add the excess back to the income from second employer? No 1099-R form received.

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1 Best answer

Expert Alumni

Jun 4, 2019 5:22:50 PM

You can report the excess contribution to your 401K on line 7 of your 2017 Tax Return without a Form 1099-R by following these steps:

Click on the "Federal Taxes" Tab
Click on the "Wages & Income" Tab
Click on "I'll choose what I work on"
Scroll down to "Less Common Income"
Select "Miscellaneous Income" and click Start or Update
Select "Other income not already reported on a Form W-2 or Form 1099" and click on Start
Answer the Question "Did you receive any other wages? Yes
Click through the questions until you get to "Any Other Earned Income"
Answer Yes to "Did you earn any other wages?
Indicate "Other" as Source of Other Earned Income and click Continue
For the description enter "2017 Excess 401K Deferrals" and click on Done

Expert Alumni

Jun 4, 2019 5:22:50 PM

You can report the excess contribution to your 401K on line 7 of your 2017 Tax Return without a Form 1099-R by following these steps:

Click on the "Federal Taxes" Tab
Click on the "Wages & Income" Tab
Click on "I'll choose what I work on"
Scroll down to "Less Common Income"
Select "Miscellaneous Income" and click Start or Update
Select "Other income not already reported on a Form W-2 or Form 1099" and click on Start
Answer the Question "Did you receive any other wages? Yes
Click through the questions until you get to "Any Other Earned Income"
Answer Yes to "Did you earn any other wages?
Indicate "Other" as Source of Other Earned Income and click Continue
For the description enter "2017 Excess 401K Deferrals" and click on Done