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URL:  http://boards.fool.com/greetings-paulprotus-and-welcome-ltlti-10096333.aspx

Subject:  Re: 401k over-contribution Date:  2/2/1998  6:33 PM
Author:  TMFPixy Number:  1592 of 75335

Greetings, Paulprotus, and welcome.

<<I inadvertently contributed 46.00 over the max for 1997. I was working against the final paystub from my previous firm, forgetting a secondary check issued later to cover some additional hours. Since the information came late my current firm cannot or will not back it out of 1997. What do I face now with my tax returns and future contributions? >>

Well, you can't get it back from either plan, so the simplest is to include it in income even though the W2s show it as excluded. Then attach an explanatory note to say why. I'm not a tax expert, though, so you may want to ask this over in the Tax Strategies folder where those beasties reside.

Regards….Pixy

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