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How can you lose money in a 401 k?

Updated: 10/19/2022
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Q: How can you lose money in a 401 k?
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If you want to get out of IRA and go back to 401 k can you send money back to 401?

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If you paid more than the allowed amount on your 401(k), contact your employer 401(k) rep about the amount that you have overpaid. You should receive a check from the 401(k) company or your plan administrator. This amount is to be reported on the Tax Form 1040, line 7. Since this money went into your 401(k) untaxed, it now has to be taxed. Report this money in the tax year you receive it.


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