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New Member
posted Mar 24, 2025 2:54:16 PM

I overpaid my 401k due to two different jobs in 2024. My current employer cannot repay me as the deadline has passed. My previous 401k is rolled over in IRA. Advise pl.

0 2 667
2 Replies
Expert Alumni
Mar 24, 2025 3:21:58 PM

Yes, you will need to include the excess deferral in TurboTax.  Here is how!!

 

  1. Log into your account
  2. Select Wages and income
  3. Less Common income
  4. Miscellaneous Income, 1099-A, 1099>start
  5. Scroll to the bottom of the page to Other Reportable Income
  6. Other taxable income, answer yes
  7. Then give a brief description of the income and the amount listed..
  8. Enter this as Excess 401k deferral and then the amount of the excess deferral.

New Member
Apr 6, 2025 8:49:53 AM

Thanks.