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Retirement tax questions
Roth contributions through an employer are either employee contributions to a Designated Roth Account in an employer plan, reported in box 12 of the employee's W-2, or they are Payroll Deduction Contributions to a Roth IRA which are regular Roth IRA contributions made to the individual's personal Roth IRA account, not an employer plan. In either case the amount *should* be entered into TurboTax because the contribution could qualify for a Retirement Savings Contributions Credit which *would* be recorded on the tax return.
‎June 3, 2019
12:04 PM