hozefas
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If I do not refund the excess, do I have to pay the 6% penalty in 2021? Do I have to keep paying the 6% penalty each year the excess remains in the account?
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Do I not need to request a refund if I am doing this after April 15th? How do I report the excess income for 2021 in this case?
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Hello@DianeW777I have a similar situation where my overall deferral for 2021 went above the limit by $500. I have NOT filed my 2021 return yet. But in my case, ...
Activity Feed for hozefas
- Posted Re: Excessive contribution to 401k in 2021 - Vanguard said to report in 2022 tax return? on Get your taxes done using TurboTax. April 11, 2022 2:52 PM
- Posted Re: Excessive contribution to 401k in 2021 - Vanguard said to report in 2022 tax return? on Get your taxes done using TurboTax. April 11, 2022 1:39 PM
- Posted Re: Excessive contribution to 401k in 2021 - Vanguard said to report in 2022 tax return? on Get your taxes done using TurboTax. April 11, 2022 11:52 AM