I requested an excessive contribution distribution from Fidelity for 2018. I haven't received distribution. What do I need to do to report this for my 2018 taxes?

brownri9 — Tue, 04 Jun 2019 21:19:17 GMT

You need to report your excess contributions on Line 1 of...

Rachel_W — Tue, 04 Jun 2019 21:19:18 GMT

You need to report your excess contributions on Line 1 of your 2018 Tax Return by following these steps:

Login to your return
Click "Take Me To My Return"
Click "Federal" on the left side of your screen
Scroll down to "Less Common Income" (You may need to click "Show All" to get this option to pop up)
Select "Miscellaneous Income, 1099-A, 1099-C" and click "Start or Update"
Select "Other income not already reported on a Form W-2 or Form 1099" and click on "Start"
Answer "Yes" to the Question "Did you receive any other wages?"
Click "Continue" through the questions until you get to the section "Any Other Earned Income"
Answer "Yes" to "Did you earn any other wages?"
Indicate "Other" as Source of Other Earned Income and click "Continue"
For the description enter "2018 Excess 401K Deferrals", enter the amount, and click on "Done"

Note: There is currently an e-file issue related to excess deferrals. For more details click here: Excess 401(k) Contribution Preventing E-filing.