turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Does my 403b contributions reduce my taxable income? TT reduced my taxable income for my wife's 401k but not my 403b.

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

1 Best answer

Accepted Solutions
Opus 17
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Does my 403b contributions reduce my taxable income? TT reduced my taxable income for my wife's 401k but not my 403b.

Contributions to a pre-tax 403b or 401k are removed from your W-2 box 1 taxable wages by the employer.  They are already not taxed for that reason.  You should not see Turbotax doing anything special for either one.  401k and 403b contributions are captured automatically from your W-2.  Later in the program when you are asked about IRA contributions, do not enter any workplace plans, that question is only for an actual private IRA that you set up on your own.  An IRA and a workplace plan are not the same, even though they are similar. 

View solution in original post

1 Reply
Opus 17
Level 15
Intuit Approved! This answer has been verified for accuracy by an Intuit expert employee

Does my 403b contributions reduce my taxable income? TT reduced my taxable income for my wife's 401k but not my 403b.

Contributions to a pre-tax 403b or 401k are removed from your W-2 box 1 taxable wages by the employer.  They are already not taxed for that reason.  You should not see Turbotax doing anything special for either one.  401k and 403b contributions are captured automatically from your W-2.  Later in the program when you are asked about IRA contributions, do not enter any workplace plans, that question is only for an actual private IRA that you set up on your own.  An IRA and a workplace plan are not the same, even though they are similar. 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question