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I contributed $422.91 to a tax qualified retirement plan with my employer. My employer matches my annual contributions to the plan. Why can't this be deducted?
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June 4, 2019
9:02 PM
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Retirement tax questions
If you contributed to a tax deferred retirement plan at work, your contribution has already been excluded from taxation on your form W-2. The amount of wages in box 1 of form W-2 is smaller than the amount in box 5 (Medicare wages) by the amount of your contribution.
Your contribution is not deducted on line 51 of form 1040.
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June 4, 2019
9:02 PM