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Level 1
January 22, 2020
Solved

I already have my retirement plan through my employer filled out as part of the W-2 information. Do I put the amount of money put into the account in my deductions tab?

  • January 22, 2020
  • 1 reply
  • 19 views
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Best answer by MinhT1

If you contributed to a qualified retirement plan through your employer, the amount contributed is reported in box 12 of your form W-2 and this amount has already been excluded from taxation in the taxable wages reported in box 1.

 

Therefore, you do not need to enter the amount contributed in the Deductiuons & Credits section.

1 reply

MinhT1Answer
Level 15
January 22, 2020

If you contributed to a qualified retirement plan through your employer, the amount contributed is reported in box 12 of your form W-2 and this amount has already been excluded from taxation in the taxable wages reported in box 1.

 

Therefore, you do not need to enter the amount contributed in the Deductiuons & Credits section.

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