I overcontribted to my 401k from 2 employers and received the excess contributions back but my w2 doesn't reflect that, do I need a corrected w2 before filing my taxes?
You'll need to sign in or create an account to connect with an expert.
No, you do not need a corrected W2 if you overcontributed to your 401(k). You should input the W2 exactly as it appears.
If you haven't done so already, you should click here and follow these instructions to include your excess deferral as wages on your return: Including excess 401(k) contribution on Line 1 of Form 1040.
Note: Currently there is an e-filing issue related to excess 401(K) contributions. TurboTax is currently working on a solution and an update to fix the issue is expected to be released around 4/5/2019.
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.
You can check out this recently added TurboTax FAQ for more information: Excess 401(k) Contribution Preventing E-filing.
No, you do not need a corrected W2 if you overcontributed to your 401(k). You should input the W2 exactly as it appears.
If you haven't done so already, you should click here and follow these instructions to include your excess deferral as wages on your return: Including excess 401(k) contribution on Line 1 of Form 1040.
Note: Currently there is an e-filing issue related to excess 401(K) contributions. TurboTax is currently working on a solution and an update to fix the issue is expected to be released around 4/5/2019.
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.
You can check out this recently added TurboTax FAQ for more information: Excess 401(k) Contribution Preventing E-filing.
Still have questions?
Make a postAsk questions and learn more about your taxes and finances.
bridge5
New Member
srfrgyrl
New Member
scotttiger
Level 4
bfordmn
New Member
turbobruce0524
New Member
Did the information on this page answer your question?
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.