MinhT1
Expert Alumni

Retirement tax questions

Contributions:

In TurboTax, you don't need to enter contributions you made to your 401(k) plan at work.

 

These contributions are already reported on your form W-2 in box 12 with code D and have already been excluded from taxation in the amount reported in Box 1 of your W-2.

 

Please check that your W-2 has the amount of your 401(k) contributions in box 12 code D and enter your W-2 in TurboTax as received.

 

Withdrawals:

If you made a withdrawal from your 401(k), you'll receive a form 1099-R.

 

You can enter your form 1099-R by following these steps:

 

  1. In TurboTax, open your tax return
  2. Click on the down arrow next to Federal in the left-hand column then on Wages & Income
  3. Locate the section Retirement Plans and Social Security and click on the down arrow on the right
  4. Click Start next to IRA, 401(k), Pension Plan Withdrawals (1099-R).

 

 

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