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My employer 401k just refunded half of my 2017 contribution…

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My employer 401k just refunded...
My employer 401k just refunded half of my 2017 contribution because the company is not in compliance in regards ***** ***** of Highly Compensated Employees. question is what year will that be taxed in, and can I do anything with the 11,000 to protect it from paying 2017 taxes?
Submitted: 3 months ago.Category: Finance
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Answered in 11 minutes by:
3/30/2018
Financial Professional: Carter McBride, Financial Advisor replied 3 months ago
Carter McBride
Carter McBride, Financial Advisor
Category: Finance
Satisfied Customers: 1,269
Experience: Adjunct Professor
Verified

Hey! I'm Carter, I'm a CPA and can help you out.

It will be taxed in the year that it is refunded to you, so it will go to 2018.

It will not be taxed in 2017, so you do not need to protect it.

Let me know if you need anything else. If not, please leave a rating. Thanks!

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Financial Professional: Carter McBride, Financial Advisor replied 3 months ago

Hey! Just wanted to follow up to see if you needed anything else. If not, please leave a rating so I can get credit for helping you out. Thanks!

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