Withdrew Excess 401k Contribution in 2019, No 1099-R for 2018 Taxes
Its March 2019 and I am working on my 2018 taxes and realized that I over-contributed on my 401k contribution by $900.
1) I reached out to my 401k plan administrator and had them withdrawal the excess + Earnings from my Roth IRA (I had left the company and rolled over my 401k roth into my roth IRA and 401k to my Traditional IRA. I decided to withdraw the excess from my Roth account). I was told I will not be getting a 1099-R until end of 2019
2) Received confirmation that my withdrawal was successful, in March 2019. $900 excess + $117.43 earnings.
Based upon the various answers on Turbot Tax.
1) Do I report this excess under Misc Income with the steps below?
- Go to Wages & Income -> Less Common Income -> Miscellaneous Income, 1099-A, 1099-C.
- Click Other income not already reported on a Form W-2 or Form 1099.
- Answer Yes, you received other wages.
- Proceed to the Any Other Earned Income page and answer Yes.
- click past next 2 screens till you reach the excess salary deferral screen
- Did you earn any other wages answer YES
- Choose "OTHER"
- "Excess 401k salary deferral" in the description and enter the amount including earnings that were withdrawn
2) What number do I report? The principle excess, $900 or both principle + earnings, $1017.43?
Thank you,
