In 2017 wife purchased military time in her 403b plan for $39,374.26 This amount did not show up on her W2 box 12. Is the payment to the retirement plan tax deductible?
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In 2017 wife purchased military time in her 403b plan for $39,374.26 This amount did not show up on her W2 box 12. Is the payment to the retirement plan tax deductible?
In 2017 wife purchased military time in her 403b plan for $39,374.26 This amount did not show up on her W2 box 12. Is the payment to the retirement plan tax deductible?
No, it's not deductible. However, you'll have basis in the retirement account, so future distributions, whenever they're made, will only be partially taxable then.
In 2017 wife purchased military time in her 403b plan for $39,374.26 This amount did not show up on her W2 box 12. Is the payment to the retirement plan tax deductible?
No, it's not deductible. However, you'll have basis in the retirement account, so future distributions, whenever they're made, will only be partially taxable then.
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