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If I have a 401 k and a Roth that I contribute to through my paycheck, do I still say that I contributed to them or is it taken in account already with my W-2?

 
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Accepted Solutions
PeterM
New Member

If I have a 401 k and a Roth that I contribute to through my paycheck, do I still say that I contributed to them or is it taken in account already with my W-2?

The W-2 is going to have specific codes in box 12 that dictate their tax treatment within Turbo Tax.

On the W-2, in box 12, there should be a code "D" for your 401(k) contributions and on a separate line you should see code "AA" for your Roth contributions. Once you enter these into Turbo Tax, the system automatically carries the information to the necessary tax form.

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1 Reply
PeterM
New Member

If I have a 401 k and a Roth that I contribute to through my paycheck, do I still say that I contributed to them or is it taken in account already with my W-2?

The W-2 is going to have specific codes in box 12 that dictate their tax treatment within Turbo Tax.

On the W-2, in box 12, there should be a code "D" for your 401(k) contributions and on a separate line you should see code "AA" for your Roth contributions. Once you enter these into Turbo Tax, the system automatically carries the information to the necessary tax form.

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