topic 401k contribution penalty in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/401k-contribution-penalty/01/671341#M64005 Turbo Tax is telling me I have over-contributed, and I will pay a penalty; however, I have not reached 18k.&nbsp;&nbsp;Why is that? Thu, 06 Jun 2019 10:25:06 GMT Jeff_Bischoff 2019-06-06T10:25:06Z 401k contribution penalty https://ttlc.intuit.com/community/retirement/discussion/401k-contribution-penalty/01/671341#M64005 Turbo Tax is telling me I have over-contributed, and I will pay a penalty; however, I have not reached 18k.&nbsp;&nbsp;Why is that? Thu, 06 Jun 2019 10:25:06 GMT https://ttlc.intuit.com/community/retirement/discussion/401k-contribution-penalty/01/671341#M64005 Jeff_Bischoff 2019-06-06T10:25:06Z Do not enter your 401(k) contributions under Deductions &... https://ttlc.intuit.com/community/retirement/discussion/do-not-enter-your-401-k-contributions-under-deductions/01/671343#M64006 <P>Do not enter your 401(k) contributions under Deductions &amp; Credits.&nbsp; Your 401(k) is not an IRA.&nbsp; Any amounts shown in box 12 of your W-2 are to be entered only on TurboTax's W-2 form.<BR /></P> Thu, 06 Jun 2019 10:25:07 GMT https://ttlc.intuit.com/community/retirement/discussion/do-not-enter-your-401-k-contributions-under-deductions/01/671343#M64006 dmertz 2019-06-06T10:25:07Z Re: Do not enter your 401(k) contributions under Deductions &... https://ttlc.intuit.com/community/retirement/discussion/re-do-not-enter-your-401-k-contributions-under-deductions/01/853703#M76758 <P>OK.&nbsp; This was done.&nbsp; But the total amount of contribution was declared as excess and I paid a penalty of $53.</P><P>I am 72.&nbsp; Still working.&nbsp; Still contributing.&nbsp; What to do?</P> Thu, 19 Sep 2019 13:32:58 GMT https://ttlc.intuit.com/community/retirement/discussion/re-do-not-enter-your-401-k-contributions-under-deductions/01/853703#M76758 Emile 2019-09-19T13:32:58Z Re: Do not enter your 401(k) contributions under Deductions &... https://ttlc.intuit.com/community/retirement/discussion/re-do-not-enter-your-401-k-contributions-under-deductions/01/853751#M76763 <P>If you reported an IRA contribution on your tax return that you did not make, amend your tax return.&nbsp; Contributions to a 401(k) are not contributions to an IRA.</P> Thu, 19 Sep 2019 15:11:39 GMT https://ttlc.intuit.com/community/retirement/discussion/re-do-not-enter-your-401-k-contributions-under-deductions/01/853751#M76763 dmertz 2019-09-19T15:11:39Z
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topic 401k contribution penalty in Retirement tax questions
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Turbo Tax is telling me I have over-contributed, and I will pay a penalty; however, I have not reached 18k.&nbsp;&nbsp;Why is that?
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Turbo Tax is telling me I have over-contributed, and I will pay a penalty; however, I have not reached 18k.&nbsp;&nbsp;Why is that?
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Do not enter your 401(k) contributions under Deductions &...
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<P>Do not enter your 401(k) contributions under Deductions &amp; Credits.&nbsp; Your 401(k) is not an IRA.&nbsp; Any amounts shown in box 12 of your W-2 are to be entered only on TurboTax's W-2 form.<BR /></P>
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Re: Do not enter your 401(k) contributions under Deductions &...
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https://ttlc.intuit.com/community/retirement/discussion/re-do-not-enter-your-401-k-contributions-under-deductions/01/853703#M76758
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<P>OK.&nbsp; This was done.&nbsp; But the total amount of contribution was declared as excess and I paid a penalty of $53.</P><P>I am 72.&nbsp; Still working.&nbsp; Still contributing.&nbsp; What to do?</P>
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<dc:date>2019-09-19T13:32:58Z</dc:date>
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Re: Do not enter your 401(k) contributions under Deductions &...
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https://ttlc.intuit.com/community/retirement/discussion/re-do-not-enter-your-401-k-contributions-under-deductions/01/853751#M76763
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<P>If you reported an IRA contribution on your tax return that you did not make, amend your tax return.&nbsp; Contributions to a 401(k) are not contributions to an IRA.</P>
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