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Retirement tax questions
In Box 14 add an extra line for "RailRoad Retirement Compensation" and then enter the following:
- The amount in Box 1 (Gross Wages)
- PLUS any amount in Box 12 - Code D - 401k Contributions
- (401k contributions are not taxable for federal purposes, and therefore are excluded from the Box 1 amount. You need to add it back for TurboTax to properly calculate the Tier1)
‎February 15, 2020
6:13 AM