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My contributions for my employer retirement savings plan are Roth. Where do I record this amount?

 
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5 Replies
PaulaM
Expert Alumni

My contributions for my employer retirement savings plan are Roth. Where do I record this amount?

Roth IRA and Employer-sponsored Roth contributions are not recorded anywhere on your tax return for a deduction. Enter your W-2 data only for an employer sponsored Roth.

If you qualify, you can enter your Roth Contributions in the Retirement Savings Contribution Credit section. This is a credit for certain middle-income taxpayers with other qualifying requirements. See link below for the requirements.

https://ttlc.intuit.com/questions/1900486-what-is-the-saver-s-credit

[4/18/17]

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dmertz
Level 15

My contributions for my employer retirement savings plan are Roth. Where do I record this amount?

Roth contributions through an employer are either employee contributions to a Designated Roth Account in an employer plan, reported in box 12 of the employee's W-2, or they are Payroll Deduction Contributions to a Roth IRA which are regular Roth IRA contributions made to the individual's personal Roth IRA account, not an employer plan.  In either case the amount *should* be entered into TurboTax because the contribution could qualify for a Retirement Savings Contributions Credit which *would* be recorded on the tax return.
PaulaM
Expert Alumni

My contributions for my employer retirement savings plan are Roth. Where do I record this amount?

I will edit to reflect the possibility of a saver's credit for lower income saver's but Roth IRA aren't required to be entered in the IRA section at all.
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dmertz
Level 15

My contributions for my employer retirement savings plan are Roth. Where do I record this amount?

Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form.

Impatti
New Member

My contributions for my employer retirement savings plan are Roth. Where do I record this amount?

Thank you for the response.  That is what I thought.

 

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