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mckinleygirl08
New Member

Does a 401k count as qualified retirement plan? Or do i select no for that question. Turbo tax question Question-(have you contributed to any qualified retirement plans?)

 
1 Reply
MichaelL1
Level 15

Does a 401k count as qualified retirement plan? Or do i select no for that question. Turbo tax question Question-(have you contributed to any qualified retirement plans?)

Yes, a 401K is a qualified retirement plan.  Answer YES if t is a 401K. 

Qualified Retirement Plan' A type of retirement plan established by an employer for the benefit of the company's employees. Qualified retirement plans give employers a tax break for the contributions they make for their employees.

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