Question

Do i need to file Amendment for 2018 tax return, if have over contributed 401k Amount in 2018, and got amount back from plan administrator

Forum|Forum|7 years ago
June 5, 2019
1 reply
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In 2018 i did over contribution to my 401K by $772. So my plan admin started a refund and instead refunded $720 on 31st March. So I have two questions

1) Do i need to file Amendment for 2018 return

2) What amount should i report. 772 or 720

RachelW33

1) Yes, if you have already filed your 2018 Tax Return, you will need to Amend it. You can click here for instructions on Amending your tax return: How to Change a Tax Return You Already Filed.

2) You should report the full amount of your over contribution, $772. Please follow the instructions in this link to report your over contibution of $772 as wages on your 2018 Tax Return: How to report excess 401(k) Contribution

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A

amul.17Author

Thanks TurboTaxRachelW for responding. Follow up question. I have not received 1099-R form from my Plan administrator. Do you suggest to wait for that form before filing the Amendment for 2018. I have my got my federal amount back and State tax paid already for 2018.
Also I read on the links you shared that there is no dead line for Apr 15 for amendment and in fact i can amend it till 2 years as well? is that right???