- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Report Inappropriate Content
My elective contribution to a 403b is not being subtracted from my taxable income. Box 12 is code E and Box 13 is checked retirement plan. Has worked in past years.
I'm a pastor and have a housing allowance and contribute extra money to a 403b retirement plan. (Total of $7,942.59 in 2018) In looking at my W-2, all the correct boxes are marked appropriately. The only way I can get the deduction to work, is to reduce the amount in Box 1 by the amount of the contribution. But then my W2 doesn't match what's entered in Turbo Tax. In prior years,according to my understanding, the amount entered in Box 12 has always been subtracted from the income amount in Box 1 so the retirement contribution is deducted from taxable income. Has there been a change in the Turbo Tax program due to the new tax laws? Or has there been a change in how the amounts are printed on the W2. The employer uses the current version of Quickbooks for payroll. Please advise.