401k and traditional IRA

[hbouzari]

If my income is less do I still need to file for 401K and Traditional IRA in my Tax refund?

[xmasbaby0]

If you have a 1099R for money you took from a retirement account, you must enter it on your tax return with all of your other income.

To enter your retirement income, Go to  Federal> Wages and Income>Retirement Plans and Social Security>IRA  401 k) Pension Plan Withdrawals to enter your 1099R.

[DoninGA · Accepted solution]

If you made withdrawals from the 401(k) account and from an IRA in 2023 those withdrawals have to be reported on a federal tax return.  You should have received a Form 1099-R for each withdrawal.

If this is not what you are referring to, then please clarify and reply back on this thread.

[JulieS]

Yes, you should still enter the information about your 401(K) contributions because it is part of your W-2 form. It doesn't get entered anywhere else on your tax return.

Entering information about your IRA contributions is a good idea even if you don't need the deduction. Entering the information will help you avoid overcontributing to your IRA and you may get the Retirement Savings Contribution Credit if you income is low enough.