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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:
- In TurboTax, open your tax return
- Click on the down arrow next to Federal in the left-hand column then on Wages & Income
- Locate the section Retirement Plans and Social Security and click on the down arrow on the right
- Click Start next to IRA, 401(k), Pension Plan Withdrawals (1099-R).
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‎January 30, 2024
3:22 PM