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New Member
posted Jan 19, 2024 9:21:13 PM

If my employer also contributes to my 401k, can I use the combined amount of my own & my employer on my tax return or only the amount that i personally contribute?

my statement summary separates how much my employer contributed and how much i contributed. i'm unsure if i'm only supposed to use my personal contributions or if i can use the combined total of us both.

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2 Replies
Level 15
Jan 19, 2024 9:24:25 PM

Use it for what?   If you have a 401k plan at work, the amount you enter into your tax return is on your W-2.  You do not enter it anywhere else on your tax return.  You simply enter all of the boxes on the W-2 just as they appear.

Level 15
Jan 20, 2024 4:08:10 AM

Nothing from your 401(k) summary statement is to be entered into TurboTax.  Anything related to your 401(k) is entered via the entry of your W-2 onto TurboTax's W-2 form.  Your employer, not you, gets the deduction for employer contributions to your 401(k).