If I already filled out box 12D on the wages and income section for my W2, do i need to fill it out again in the deduction and credit section for retirement funds?
03374
1 Best answer
VolvoGirl
Level 15
Jun 4, 2019 1:34:40 PM
NO! Only enter it from the W2. That is 401K not an IRA. Only IRA contributions go in Deductions & Credits.
3 Replies
VolvoGirl
Level 15
Jun 4, 2019 1:34:40 PM
NO! Only enter it from the W2. That is 401K not an IRA. Only IRA contributions go in Deductions & Credits.
daniel-m-kang
New Member
Jun 4, 2019 1:34:42 PM
Thanks for clarifying! Super helpful! Also, another question, is there a (max) limit on 401K contributions like IRA contributions?
VolvoGirl
Level 15
Jun 4, 2019 1:34:43 PM
Yes 18,000 or 24,500 if over 50. Check with your employer.