PaulaM
Employee Tax Expert

Retirement tax questions

When you contribute to a 401k, your wages are reduced by your $6,600 contribution and taxes are then computed on the reduced wages. 

There isn't anything to claim or deduct on your tax return if you contribute to a 401K (contributions to traditional IRA's may be deductible). Enter your W-2 form only. It will contain the 401K contribution in box 12.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post