I have a Calpers account where I contributed throughout the year. Should I enter this info in retirement and investments section in turbo tax? If so, which category?

[TomYoung · Accepted solution]

NO.  Your contributions were made "pre-tax" and those contributions are not part of your Box 1 amount on your W-2.  No further entries are necessary.

Tom Young

[Anna5]

thank you!!! Does that mean that I don't need to enter my calpers contributions anywhere on turbotax forms?

[macuser_22]

They should be in box 12 on your W-2.  You do not enter anywhere else.

[Anna5]

Box 12 of my W2 contains DD, which is the cost of employer health coverage. That is why I am wondering if my W2 is missing my calpers contribution

[VolvoGirl]

How did you pay it?  Did it come out of your checks?  Ask Pers or your employer.

[Anna5]

@VolvoGirl It was supposed to come out of my checks- yes.

[macuser_22]

Calpers might not be reported at all since it is a California State retirement plan.   Probably on a separate statement.

[Anna5]

@macuser_22 when you say "separate statement" - what do you mean?

[macuser_22]

My wife used to receive year end statements reporting the retirement balance, and contributions.   

I "think" Calpers is a 457(b) plan, but I might be mistaken.  Contributions to that would be reported in box 12 on a W-2 with a code "G".

[VolvoGirl]

I have CalPers.  You shouldn't need to enter it at all unless you are getting a pension or rolled it over.  I'm retired now but I could look up on the W2s from working to see how they reported it.  Just enter the W2 exactly as shown.  They are keeping track of the pre-tax and post tax contributions so when you do take it out the 1099'R will  be right.

[Anna5]

@macuser_22 thank you. i probably should check with my employer then because I don't have a code G in box 12.

[Anna5]

@VolvoGirl I indeed entered W 2 exactly as shown. My confusion started when I didn't see my retirement contribution on W2. For some reason I expected to see it there...but maybe that wasn't right to expect.