turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Event: Ask the Experts about your refund > RSVP NOW!
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

archkum
New Member

I made excess contributions to my 401k in 2019. I withdrew the excess in 2020 ( from Roth ). Do I need to report anything in my 2019 taxes?

Excess was due to job changes. I withdrew as soon as I realized (which was in 2020)
Connect with an expert
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

I made excess contributions to my 401k in 2019. I withdrew the excess in 2020 ( from Roth ). Do I need to report anything in my 2019 taxes?

"Roth"?   Do you mean a designated Roth (a 401(k) Roth)?    If so then nothing gets reported on your 2019 tax return but if any earnings were returned then  that will be taxable income on your 2020 tax return.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
archkum
New Member

I made excess contributions to my 401k in 2019. I withdrew the excess in 2020 ( from Roth ). Do I need to report anything in my 2019 taxes?

Yes that is correct, it is a  designated 401(k) Roth. Thank you for a prompt reply. Appreciate it!

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies