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New Member
posted Apr 13, 2022 8:05:54 PM

How do I report a 401k contribution made last year that is not reported on my w-2?

I haven't contributed via payroll in 2021, but I used the fidelity website to pay in $6,000.  I got a form 5498, but TurboTax says they aren't interested in that.  I thought all 401k contributions (not just on w2) were tax-deferred?

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2 Replies
Expert Alumni
Apr 13, 2022 8:18:02 PM

You may contribute to a 401(k) plan only if your employer has a 401(k) plan set up for the employees. Otherwise, you cannot set up your own 401(k) plan unless you are self-employed (the so-called solo 401(k)).

It sounds like you have contributed to a traditional IRA account. Read the Form 5498, what does the form say? Is it an IRA account?

Level 15
Apr 14, 2022 6:02:23 AM

This was an IRA contribution, not a 401(k) contribution.  Traditional IRA contributions may or may not be deductible:  https://www.irs.gov/retirement-plans/ira-deduction-limits