Can I claim both my contribution to a 401k and my employers contribution to the 401k?

[jaime-debruyn]

I contributed to my 401k and my employer contributed also. When asked in TurboTax to list how much was contributed to a 401k in 2022, do I list only my amount? Or mine plus the employer amount?

[xmasbaby0]

When you enter your W-2 the 401k retirement contribution is there-----you just enter your W-2 exactly as it appears.  Do not go into the software and try to enter it again somewhere else.

[VolvoGirl]

Where did it ask you how much you contributed to a 401K?  Was it maybe asking about IRA contributions?  Did you also take a distribution from a 401K?  How old are you?  

[dmertz]

Your employer gets the deduction for the employer contribution.  You do not.  The employer contribution does not get reported anywhere on your tax return.

As for your employee contributions, enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.

[Opus 17]

TurboTax never asks if you contributed to a 401(k).  TurboTax asks if you contributed to an IRA.  An IRA is a private account that you established with a bank or investment company on your own.

You can only contribute to a 401(k) by payroll deduction, and your contributions plus any employer match are recorded on your W-2 and automatically taken care of by TurboTax.

workplace retirement plans and IRAs are covered by different sections of the law, and have completely different rules for contributions and withdrawals, even though they have a similar purpose.