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koehler656
New Member

Employer contributions to 401k plan are not reported on the employees w-2, correct.

employer included both taxpayers contributions and the employer contributions on line 12 under code D  this not correct right

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Accepted Solutions
dmertz
Level 15
Intuit Approved!

Employer contributions to 401k plan are not reported on the employees w-2, correct.

Only your elective deferrals to the 401(k) are to be reported with code D in box 12 of your W-2.  Employer matching or profit sharing contributions are not to be reported on your W-2.  Your employer should not be treating as elective deferrals any amount that you did not ask to be deferred from your paycheck.

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3 Replies
dmertz
Level 15
Intuit Approved!

Employer contributions to 401k plan are not reported on the employees w-2, correct.

Only your elective deferrals to the 401(k) are to be reported with code D in box 12 of your W-2.  Employer matching or profit sharing contributions are not to be reported on your W-2.  Your employer should not be treating as elective deferrals any amount that you did not ask to be deferred from your paycheck.

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vtichy
New Member

Employer contributions to 401k plan are not reported on the employees w-2, correct.

I have solo 401k contribution that I include on my W2.  I understand employer profit sharing contribution is not included on W2.  That being said, do we deduct the employer share on the personal income tax form, or on the business form.  I believe it would be the business form, but checking to be sure.  Thanks.

dmertz
Level 15

Employer contributions to 401k plan are not reported on the employees w-2, correct.

vtichy, the fact that you receive a W-2 from the company implies that you have an S corp.  The deduction for the employer contribution is taken on the S corp's tax return.

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