Solved: Did you contribute to a qualified retirement plan in 2017? Does 401k count ?
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Did you contribute to a qualified retirement plan in 2017? Does 401k count ?

 
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Did you contribute to a qualified retirement plan in 2017? Does 401k count ?

Your 401(k) is a qualified retirement plan. However, your contributions are already reported on your form W-2 in box 12 code D.

You do not report them again in TurboTax.

You answer Yes to this question only if you contributed to another plan, such as a Traditional IRA or Roth IRA.

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Level 6
Intuit Approved!

Did you contribute to a qualified retirement plan in 2017? Does 401k count ?

Your 401(k) is a qualified retirement plan. However, your contributions are already reported on your form W-2 in box 12 code D.

You do not report them again in TurboTax.

You answer Yes to this question only if you contributed to another plan, such as a Traditional IRA or Roth IRA.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

View solution in original post

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New Member

Did you contribute to a qualified retirement plan in 2017? Does 401k count ?

What if it’s a pension plan? And it’s not box 12 

and I also have a 401k with profit sharing that isn’t listed as well so can I use them ? 

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Expert Alumni

Did you contribute to a qualified retirement plan in 2017? Does 401k count ?

The following plans are considered qualified retirement plans: 

  • Traditional or Roth IRA
  • SEP or SIMPLE IRA
  • 401(k), including designated Roth 401(k)
  • 403(b), including designated Roth 403(b)
  • Salary reduction SEP
  • Governmental 457 plan
  • Section 501(c)(18) (D) plan
  • A qualified plan, section 4974(c), including the federal Thrift Savings Plan
  • Contributions to an ABLE account, as defined in section 529A

If the contributions you made were made through your job(s), your W-2(s) should properly reflect the contributions.  All you need to do is enter your W-2.  If you are unsure, you can verify the amounts on your W-2 with your employer, but you should not answer yes to this question unless you have made contributions to a qualified plan (one listed above) outside of the contributions made through your employment.     @Tgj092688 

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Expert Alumni

Did you contribute to a qualified retirement plan in 2017? Does 401k count ?

The following plans are considered qualified retirement plans: 

 

  • Traditional or Roth IRA
  • SEP or SIMPLE IRA
  • 401(k), including designated Roth 401(k)
  • 403(b), including designated Roth 403(b)
  • Salary reduction SEP
  • Governmental 457 plan
  • Section 501(c)(18) (D) plan
  • A qualified plan, section 4974(c), including the federal Thrift Savings Plan
  • Contributions to an ABLE account, as defined in section 529A

If the contributions you made were made through your job(s), your W-2(s) should properly reflect the contributions.  All you need to do is enter your W-2.  If you are unsure, you can verify the amounts on your W-2 with your employer, but you should not answer yes to this question unless you have made contributions to a qualified plan (one listed above) outside of the contributions made through your employment.     @Tgj092688 

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New Member

Did you contribute to a qualified retirement plan in 2017? Does 401k count ?

I have 401k and by mistake, I answer YES and when I try to edit the answer it doesn't let me, any ideas on how to solve this?

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Expert Alumni

Did you contribute to a qualified retirement plan in 2017? Does 401k count ?

@monfusion

 

I assume that you are being asked about the Retirement Savings Contribution Credit. As noted above, this is automatically handled by TurboTax for contributions through your employer when you make the appropriate entries on your W-2.

 

I assume that you do not have any retirement contributions that were not made through your employer.

 

If so, try this:

 

*** Desktop***

1. go to View (at the top), choose Forms, and select the desired form. Note the Delete Form button at the bottom of the screen.

 

*** Online ***

1. go to Tax Tools (on the left), and navigate to Tools->Delete a form

 

2. delete form 8880.

3. continue with your return.

 

Form 8880 is the form on which this credit is calculated.

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