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Retirement tax questions
One of us is probably confused. If you are an employee with a W-2, your 401k contributions are automatically subtracted from your box 1 taxable wages, and they are reported in box 12. Turbotax automatically captures them from your W-2. You do not enter them anywhere else on your tax return. A 401k is NOT an IRA and you should not enter 401k contributions in the IRA section. 401k contributions also don't have anything to do with schedule 1 as far as I know. Can you clarify, where are you seeing an adjustment on schedule 1?
‎February 11, 2026
6:09 AM
2,458 Views