I contributed 12374.67 to a Roth 401K, and my company contributed 10239.73 to my Traditional 401K. How does that effect my taxes.

When it goes through turbo tax it says that I have contributed over my $7000 limit for Roth IRA but it went into a 401K.

posted

Your contributions to the Roth 401(k) are only entered on your W-2 in box 12 with a code AA. Those contributions are not entered anywhere else on a tax return.

i.e............... a 401k is NOT an IRA.

Other than being retirement accounts, they are different beasts with mostly different contribution rules.

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

My filing state is CT and I am trying to enter my 529 Contributions. Where should i enter my contributions to get the state returns as CT is one of the eligible states?

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I contributed 12374.67 to a Roth 401K, and my company contributed 10239.73 to my Traditional 401K. How does that effect my taxes.