Hi All,
For correcting a 401K overcontribution, whats the tax rate you normally enter (if any) in the form. Fidelity normally states the normal rate they take out (if we dont give a %) is 20% (federal), we have the option to enter a federal and a state tax % in their forms. Any thoughts on this here?
#401k #taxes
Thanks
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In any case, you will probably either see this in your W2 or receive a W2C (corrected w2) with the correct numbers.