I over contributed to my 401k

cynthiajlee — Sat, 01 Jun 2019 17:08:43 GMT

I over contributed to my 401k by $6198 in 2018. My 401k sponsor will send me a distribution check for $4958, automatically removing 20% for only fed tax, but not removing anything for state taxes. should I input the amount of $6198 or $4958 as "sources of other earned income" ?

You should include the full amount of the excess 401(k) c...

Rachel_W — Sat, 01 Jun 2019 17:08:43 GMT

You should include the full amount of the excess 401(k) contribution $6,198. The withholding will be reported to you on a 2019 Form 1099-R.

Please note: There is currently an e-filing issue within TurboTax related to excess contributions so you will need to mail in your return. You can check out this TurboTax FAQ for more information: Excess 401(k) Contribution Preventing E-filing.

topic I over contributed to my 401k in Retirement tax questions

I over contributed to my 401k

You should include the full amount of the excess 401(k) c...