If My job opened a retirement plan thru Charles Schwab and put in the initial money. Do I have to pay taxes on that?

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If My job opened a retirement plan thru Charles Schwab and put in the initial money. Do I have to pay taxes on that?

No, you are not taxed on contributions and any earnings in a retirement account are tax deferred.

If My job opened a retirement plan thru Charles Schwab and put in the initial money. Do I have to pay taxes on that?

This will be reported on the W-2 box 12 for record keeping.

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