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New Member
posted Jun 3, 2019 5:11:03 PM

Does Roth 401K contributions fall under 'Traditional/Roth IRA Contribution Deduction'?

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1 Best answer
Level 15
Jun 3, 2019 5:11:05 PM

A 401(k) Roth (otherwise known as a "Designated Roth") is NOT an IRA, and does not get entered into the IRA contribution section at all.  It is reported by your employer in box 12 (code AA) on your W-2 form that is entered into the W-2 section in TurboTax.  The W-2 is the ONLY place that a 401(k) contribution is entered, unless you are self-employed with your own 401(k) plan, in which case it is entered on your 1040 line 28.

2 Replies
Level 15
Jun 3, 2019 5:11:05 PM

A 401(k) Roth (otherwise known as a "Designated Roth") is NOT an IRA, and does not get entered into the IRA contribution section at all.  It is reported by your employer in box 12 (code AA) on your W-2 form that is entered into the W-2 section in TurboTax.  The W-2 is the ONLY place that a 401(k) contribution is entered, unless you are self-employed with your own 401(k) plan, in which case it is entered on your 1040 line 28.

New Member
Jun 3, 2019 5:11:06 PM

It's my understanding that any contributions to my 401(k) Roth (shown in box 12 w/code AA) would not be included in my Roth IRA contributions.  Therefore, if over 50 years old, I can contribute the max 6,500 to a Roth IRA AND contribute to a Roth 401(k) without a penalty.  Is my understanding correct?