Are employee approved 401k contributions tax deductible like Roth IRAs, traditional IRAs and stock purchase plans?

[BMcCalpin · Accepted solution]

First, Roth IRA contributions are not deductible, and neither is an employee stock purchase plan.

Second, are these "employee approved" 401(k) contributions done through your employer (i.e., is there a code D in box 12 on your W-2)? If so, then your employer almost certainly removed the code D amount from Wages in box 1 on your W-2 (you can see this by comparing box 1 with boxes 3 and 5).

If this is the case, then the contributions are 'deductible' in the sense that they are never reported in your income in the first place. Therefore, there is no way (or reason) to report a deduction on your tax return.

Once you have entered the code D amount on your W-2, you do not need to enter this amount elsewhere on your return.