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Do not enter your 401(k) contributions under Deductions & Credits. Your 401(k) is not an IRA. Any amounts shown in box 12 of your W-2 are to be entered only on TurboTax's W-2 form.
Do not enter your 401(k) contributions under Deductions & Credits. Your 401(k) is not an IRA. Any amounts shown in box 12 of your W-2 are to be entered only on TurboTax's W-2 form.
OK. This was done. But the total amount of contribution was declared as excess and I paid a penalty of $53.
I am 72. Still working. Still contributing. What to do?
If you reported an IRA contribution on your tax return that you did not make, amend your tax return. Contributions to a 401(k) are not contributions to an IRA.
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