The Motley Fool Discussion Boards
Investing/Strategies / Retirement Investing
|Subject: Re: excess 401K contributions||Date: 2/23/1998 2:34 PM|
|Author: TMFPixy||Number: 1933 of 77101|
<<Thanks for the simple explanation. Why can't the people at the IRS speak English!!
I assume the returned money is now taxable income?>>
The IRS never keeps anything simple. If they did, they couldn't justify their existence. <g>
And yes, everything that was refunded to your hubby is taxable and will be reported to the IRS.
|Copyright 1996-2015 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us|