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Level 1

Question

Hi I'm under the traditional and roth IRA contribution section. Is this where I put my 401K contributions?

Forum|Forum|7 years ago
June 6, 2019
4 replies
22 views

Hi I'm under the traditional and roth IRA contribution section. Is this where I put my 401K contributions? Or is it already factored into my 401K?

TurboTax Deluxe Online

Alumni - Champ

Your 401k contributions have already been accounted for on your W-2. Do not enter your 401k contributions in the IRA section, as it will cause errors.

Level 2

I see that my 401(k) is on my W-2. How does that account for it as tax deductible? Other deductions appear on their respective 1099* tax forms and we still have to record them in our tax returns.

Level 2

My bad. Re-read your post. The 401(k) contribution is in its own W-2 AND reflected in in Box 1 income. My bad.