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Subject:  Re: 401k over-contribution Date:  2/2/1998  8:23 PM
Author:  Kilmarnoch Number:  1601 of 80228

Paulprotus wrote:
<<I inadvertently contributed 46.00 over the max for 1997. [...] 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?>>

TMFPixy wrote:
<<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.>>

Tax expert I am *not*... my take on it is if any 401k plan you contributed to allows corrections you can get the excess back from whichever plans you choose. If none of your plans allow corr