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Level 1

In the Turbotax question, Are you covered by a retirement plan at work? What does "covered" mean?

Turbo Tax Question:  Are you covered by a retirement plan at work?  My question:  What does "covered" mean?  I am retired but still have a retirement plan through work.  If I am retired (not "working"), do I answer "yes" or "no" to that question?

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Level 11

In the Turbotax question, Are you covered by a retirement plan at work? What does "covered" mean?

covered means: the "retirement plan" box is checked on one or more of your 2017 W-2s.

If you are retired, you should find that the box is not checked, or you have no W-2s.

Employee Tax Expert

In the Turbotax question, Are you covered by a retirement plan at work? What does "covered" mean?

You may be seeing that in the IRA contribution section. You would answer 'no' to the question if you are not currently employed and covered by one of the plans listed below.  This would be noted in box 13 of a W-2 form.

You're covered by another retirement plan at work if you have:

  • a qualified pension plan,
  • a Keogh,
  • a SEP,
  • a SIMPLE,
  • a 401(k), or
  • a 403(b).