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ssneni
Feb 28, 2007, 07:32 PM
Hello,

I work 2 jobs and I have overpaid my 401K.

How do I go about filing the taxes

Thanks, Srini

AtlantaTaxExpert
Mar 1, 2007, 08:39 AM
Srini:

Withdraw the money from one of the 401Ks down to the max amount allowed ($15,000 in total).

Otherwise, you will pay an excise tax of 6% per year for every year the excess is still in the 401K.