Hello,
I work 2 jobs and I have overpaid my 401K.
How do I go about filing the taxes
Thanks, Srini
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Hello,
I work 2 jobs and I have overpaid my 401K.
How do I go about filing the taxes
Thanks, Srini
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.
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