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goss-dude
New Member

I already have my retirement plan through my employer filled out as part of the W-2 information. Do I put the amount of money put into the account in my deductions tab?

 
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MinhT1
Expert Alumni

I already have my retirement plan through my employer filled out as part of the W-2 information. Do I put the amount of money put into the account in my deductions tab?

If you contributed to a qualified retirement plan through your employer, the amount contributed is reported in box 12 of your form W-2 and this amount has already been excluded from taxation in the taxable wages reported in box 1.

 

Therefore, you do not need to enter the amount contributed in the Deductiuons & Credits section.

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1 Reply
MinhT1
Expert Alumni

I already have my retirement plan through my employer filled out as part of the W-2 information. Do I put the amount of money put into the account in my deductions tab?

If you contributed to a qualified retirement plan through your employer, the amount contributed is reported in box 12 of your form W-2 and this amount has already been excluded from taxation in the taxable wages reported in box 1.

 

Therefore, you do not need to enter the amount contributed in the Deductiuons & Credits section.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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