TomK2023
Expert Alumni

Retirement tax questions

Contributions to your 401(k) or TSP plan will show up in box 12 of your W-2 form, with the letter code D.

 

Annual employee contribution limit (2022): $20,500

Additional catch-up contributions for those age 50 and older (2022): $6,500

Income limits for contributions: None, but employee contributions can not exceed wages

Matching contributions: Depends on your employer's plan

 

The deadline for electing to make an employee contribution to an individual 401(k) is December 31 and the employee contribution should be made as soon as is practical after that.  The deadline for making an employer contribution is the due date of your tax return, including extensions.

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