Box 12 on W2, have a W & D with amounts. Where does this go when filing? Also, how do I know if I contributed to my 401k for the tax credit?
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New Member

Box 12 on W2, have a W & D with amounts. Where does this go when filing? Also, how do I know if I contributed to my 401k for the tax credit?

 
5 Replies
Level 15

Box 12 on W2, have a W & D with amounts. Where does this go when filing? Also, how do I know if I contributed to my 401k for the tax credit?

Enter these only in box 12 of TurboTax' s W-2 form.  The code D entry is the amount that you electively deferred to the 401(k) and, when entered on TurboTax's W-2 form, TurboTax automatically considers this amount for the Retirement Savings Contributions Credit.  Your employer has already excluded the code D and code W amounts from the amount reported in box 1 of your W-2, so you to not get to exclude or deduct these amounts again on your tax return.

New Member

Box 12 on W2, have a W & D with amounts. Where does this go when filing? Also, how do I know if I contributed to my 401k for the tax credit?

So do I say yes to the question, did I contribute to a retirement plan?
Level 15

Box 12 on W2, have a W & D with amounts. Where does this go when filing? Also, how do I know if I contributed to my 401k for the tax credit?

I'm not sure where are you being asked this question.  Yes, the code D indicates that you contributed to a retirement plan.  Just make sure that you don't enter any of the box 12 amounts in the Traditional and Roth IRA Contributions section of TurboTax.  A 401(k) is not an IRA.
New Member

Box 12 on W2, have a W & D with amounts. Where does this go when filing? Also, how do I know if I contributed to my 401k for the tax credit?

In Deduction & Credits section. After mortgage information, it goes to Retirement Savings Contribution Credit. It will ask you, Did you contribute to a qualified retirement plan? Yes or No. Do I put Yes since I have a Code D in box 12 (W2)? And do I enter the amount again? Thank You
Level 15

Box 12 on W2, have a W & D with amounts. Where does this go when filing? Also, how do I know if I contributed to my 401k for the tax credit?

Unlike the CD/download versions of TurboTax, it appears that the online version of TurboTax has a bit of a deficiency in that it does not automatically recognize the code D entry as indicating that you made contributions to a qualified retirement plan.  You must answer Yes when asked if you contributed to a qualified retirement plan.

No, do not enter the code D amount again in the Retirement Savings Contributions Credit section, TurboTax already factors it in once you answer Yes to the first question and answer the other questions.
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