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New Member
posted Apr 9, 2023 10:22:36 AM

Are contributions made to my pre-tax IRA still tax deductible in the same way if those contributions were made through a 401k? And if so, do I include the matched amount?

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2 Replies
Expert Alumni
Apr 9, 2023 10:37:32 AM

Yes, if you make a contribution to the traditional IRA then your traditional IRA contributions may be tax-deductible. But the deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels. Please see IRA deduction limits for details.

 

For 2022 the total contributions you make each year to all of your traditional IRAs  and Roth IRAs can't be more than:

 

If you make traditional IRA contributions you will enter them with the steps below (do not enter your 401(k) contributions in this section they are already recorded when you enter your W-2):

 

  1. Login to your TurboTax Account 
  2. Click on "Search" on the top right and type “IRA contributions” 
  3. Click on “Jump to IRA contributions"
  4. Select “traditional IRA

Level 15
Apr 9, 2023 12:41:18 PM

Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.  A 401(k) is not an IRA.