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Retirement tax questions
Hi Rslawson1,
Generally, contributions to your 401(k) or TSP plan will show up in box 12 of your W-2 form, with the letter code D.
You can get to the W-2 section in TurboTax by searching for W-2 (upper- or lower-case, with or without the dash) and then clicking the Jump to W-2 link in the search results.
Because your contribution has already been accounted for on your W-2, do not re-enter it in the retirement section.
Are my contributions taxed?No, your contributions are considered "pre-tax." What this means is that your contribution amount has already been deducted from your income before tax is applied.
Your contributions will only be included in your taxable income when they are withdrawn, but by then they will be called distributions, not contributions.
Why is my contribution not listed as a deduction or credit in TurboTax?Because your contributions are pre-tax as explained above, they simply aren't part of your taxable income.
Therefore, there is no need for an extra deduction or credit to take them out of your income.
Thanks for choosing TurboTax