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June 5, 2019
Question

Catchup provision for 401k qualified plan

  • June 5, 2019
  • 1 reply
  • 5 views
I pay a 401K CATCH UP CONTRIBUTION per week to my 401k. Do I claim this on my taxes? where?

1 reply

June 5, 2019

No. Those contributions are captured from box 12 of your W2.   The taxable income reported in box 1 should be reduced by that amount, which has the same effect as a deduction (this does not apply to Roth accounts).