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nilesh3
New Member

I switched jobs in 2018 and over-contributed to 401k. Turbo tax software keeps complaining that Form W2 - elective defererrals are more than allowed for a 401k plan

Changed jobs; Over-contributed $1000 to 401K plan.
Asked current job's plan admin to return $1000.
The return will complete before April 15th, 2019
I added the $1000 as extra income (less common income section) like Turbo tax help suggested.
But when I go to federal review, the software complains, it cannot e-file; because on my Form W2, elective deferrals are more than allowed for a 401k plan.
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1 Reply
Rachel_W
Expert Alumni

I switched jobs in 2018 and over-contributed to 401k. Turbo tax software keeps complaining that Form W2 - elective defererrals are more than allowed for a 401k plan

You have taken the right steps to include the over contribution of $1,000 on your 2018 Tax Return.

At this point, you are running into an e-filing issue within TurboTax.  An update to fix the issue is expected to be released around 4/5/2019.  You can check out this TurboTax FAQ for more information: Excess 401(k) Contribution Preventing E-filing.

Be sure to sign up for updates to be alerted as soon as there is a solution.  If you do not want to wait for an update, you have the option to paper file your tax returns as this is only an e-filing issue.

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