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New Member
posted Jan 30, 2024 9:27:40 AM

For retirement contribution am I entering what my total investment is, or how much I put in per paycheck?

Public Retirement contribution  is that 401k?

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2 Replies
Level 15
Jan 30, 2024 9:30:04 AM

Stop.  You only enter retirement or 401K contributions from your W2 not under Deductions & Credits.  That is only for IRA contributions you make on your own, outside of work.

Expert Alumni
Jan 30, 2024 9:33:36 AM

Do not enter any figures from your W-2 - TurboTax automatically transfers those.    It is rare to enter any amounts in those fields, they are for after-tax contributions.   Your W-2 contributions were pre-tax and already accounted from Box 12.   The message states:

 

For 2023, you made $xxx (w-2 amounts) in regular elective contributions to employer-provided qualified retirement accounts. 

If you made any additional contributions to an employer-provided qualified retirement plan, or any 

contributions or distributions to or from an ABLE account, enter the amount below. (This is not common.)