I took a loan of 50k from my 401k for the purchase of my home, I repayed it in 6 months. Turbo tax says I overpayed my retirement contributions. How do i document this?

[MindyB]

It sounds like you are reporting the repayment of your loan as a contribution.  There is nothing to report on your tax return for a 401(k) loan.  You can delete what you entered related to this.

[VolvoGirl]

Did you get a 1099R for the loan?  What code is in box 7 ?  

[felicity-mcclure]

Ok, so on my W2, box 12AA, Roth contributions, I would just leave the number exactly as it was on my w2 (66k) ?  Even though it will look like I over contributed (as 50k was the loan). Or go ahead and do the math, put 16k down as that was the actual contribution minus the loan? 

[JamesG1]

Do you believe that box 12 of the W-2 is incorrect?  If so, contact your employer for a corrected W-2.

IRS General Instructions for Form W-2, page 21, states:

Code AA

Designated Roth contributions under a section 401(k) plan. Use this code to report designated Roth contributions under a section 401(k) plan. Do not use this code to report elective deferrals under code D. S