You'll need to sign in or create an account to connect with an expert.
Yes. Your payroll deductions are probably for a 401K plan and come out of your pay pre-tax. Unless you have the IRA contributions deducted from your pay and sent to your IRA plan separately. But usually you don't do that. 401K and IRA are different things. An IRA is set up outside of work on your own like at a bank or broker.
Enter amounts from box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.
Still have questions?
Questions are answered within a few hours on average.
Post a Question*Must create login to post
Ask questions and learn more about your taxes and finances.
simplemark1
New Member
s-p-m2portland
New Member
jack-p-stevens
New Member
greatcrazy88
New Member
gangleboots
Returning Member