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June 1, 2019
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I over contributed to my 401k

  • June 1, 2019
  • 1 reply
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I over contributed to my 401k by $6198 in 2018.  My 401k sponsor will send me a distribution check for $4958, automatically removing 20% for only fed tax, but not removing anything for state taxes. should I input the amount of $6198 or $4958 as "sources of other earned income" ?


Best answer by RachelW33

You should include the full amount of the excess 401(k) contribution $6,198.  The withholding will be reported to you on a 2019 Form 1099-R.

Please note: There is currently an e-filing issue within TurboTax related to excess contributions so you will need to mail in your return.  You can check out this TurboTax FAQ for more information: Excess 401(k) Contribution Preventing E-filing

1 reply

RachelW33
Alumni - Expert
RachelW33Alumni - ExpertAnswer
Alumni - Expert
June 1, 2019

You should include the full amount of the excess 401(k) contribution $6,198.  The withholding will be reported to you on a 2019 Form 1099-R.

Please note: There is currently an e-filing issue within TurboTax related to excess contributions so you will need to mail in your return.  You can check out this TurboTax FAQ for more information: Excess 401(k) Contribution Preventing E-filing

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