PaulaM
Employee Tax Expert

Retirement tax questions

What section are you in?

You don't enter 401k contributions into TurboTax anywhere. Your 401k contribution has already been recorded in Box 12 code D on your W-2. If you made contributions through your employer, then entry of your W-2 is all that is needed.

IRA contributions are entered in the retirement section, not 401K's. IRA's have contribution limits of $5,500 ($6,500 if over 50).

Do visit the retirement section to see if you are eligible for the Retirement Savings Contribution Credit. Your 401k qualifies, but there are other requirements to meet as well.

https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/What-Is-The-Savers-Credit-/INF15617.html

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