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posted May 31, 2019 9:52:34 PM

Contributions to IRA, Do I consider my 3% contribution only OR must I include my employers match as well?

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1 Best answer
Employee Tax Expert
May 31, 2019 9:52:35 PM

Box 12 code d is used for retirement plans offered through your employer, not IRA's (Individual Retirement Accounts). If your retirement account is through your employer (such as a 401k, 403b, etc.), don't enter it anywhere else in your return.

IRA contributions are initiated by you, independent of your employer. Not through payroll deductions. IRA contributions are entered in the retirement section.

Note: You may qualify for the Retirement Savings Contribution Credit. See link below for qualifications.

https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/What-Is-The-Savers-Credit-/INF15617.html

1 Replies
Employee Tax Expert
May 31, 2019 9:52:35 PM

Box 12 code d is used for retirement plans offered through your employer, not IRA's (Individual Retirement Accounts). If your retirement account is through your employer (such as a 401k, 403b, etc.), don't enter it anywhere else in your return.

IRA contributions are initiated by you, independent of your employer. Not through payroll deductions. IRA contributions are entered in the retirement section.

Note: You may qualify for the Retirement Savings Contribution Credit. See link below for qualifications.

https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/What-Is-The-Savers-Credit-/INF15617.html