Excess 401k Contribution

Jan 30, 2018 0 Replies

In 2016 I had an excess contribution of $150 to my traditional 401k at work. They refunded me the $150 in 2017 and issued me a 1099 for 2017 for this distribution. However, box 17 on the 1099 has a "P" which indicates it's for 2016 taxes and TaxAct is not accepting this 1099 due to that designation.



What do you we need to do? I suppose technically amend our 2016 taxes for all of $150? What is the right course of action here?


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