Discussion:Excess 401k Contribution & Social Security tax
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(Difference between revisions)
| Revision as of 21:57, 27 February 2006 Kh1812 (Talk | contribs) (The excess contr) ← Previous diff |
Current revision Jake (Talk | contribs) (I entered the 10) |
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| {{ForumReplyPost|UserID=Kh1812|Date=27 February 2006|Text=The excess contribution is reported to the taxpayer on form 1099-R and is not subject to social security or medicare taxes.}} | {{ForumReplyPost|UserID=Kh1812|Date=27 February 2006|Text=The excess contribution is reported to the taxpayer on form 1099-R and is not subject to social security or medicare taxes.}} | ||
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| + | {{ForumReplyPost|UserID=Jake|Date=22 March 2009|Text=I entered the 1099R info - the excess 401k was coded "8". In Proseries it got added to Line 7 W-2 earnings, and also got entered on Line 22 as "Excess 401k contributions refunded". I was able to remove it from the "other income worksheet".}} | ||
Current revision
Discussion Forum Index --> Tax Questions --> Excess 401k Contribution & Social Security tax
| 27 February 2006 | |
| If an employee makes an excess contribution to a 401K is this excess contribution besides being taxable also subject to social security taxes.Since this exess is to be included on line 7 form 1040 I assume it is. | |
| 27 February 2006 | |
| The excess contribution is reported to the taxpayer on form 1099-R and is not subject to social security or medicare taxes. | |
| 22 March 2009 | |
| I entered the 1099R info - the excess 401k was coded "8". In Proseries it got added to Line 7 W-2 earnings, and also got entered on Line 22 as "Excess 401k contributions refunded". I was able to remove it from the "other income worksheet". | |
