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Is a 401k the same as a retirement plan? Would I or do i file this for taxes?

 
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PaulaM
Employee Tax Expert

Is a 401k the same as a retirement plan? Would I or do i file this for taxes?

A 401k is a retirement plan that you contribute through your employer via payroll deductions. These contributions are listed on your W-2 form in box 12, code D. Entry of your W-2 form is all you need to enter for your 401k contributions.

If you took distributions from your 401k, then that would be reported on a 1099-R form. This form is entered with its Box 7 code.

https://ttlc.intuit.com/questions/1899457-what-do-the-letter-codes-in-box-12-of-my-w-2-mean

https://ttlc.intuit.com/questions/2562809-what-do-all-the-codes-in-box-7-of-the-1099-r-mean

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1 Reply
PaulaM
Employee Tax Expert

Is a 401k the same as a retirement plan? Would I or do i file this for taxes?

A 401k is a retirement plan that you contribute through your employer via payroll deductions. These contributions are listed on your W-2 form in box 12, code D. Entry of your W-2 form is all you need to enter for your 401k contributions.

If you took distributions from your 401k, then that would be reported on a 1099-R form. This form is entered with its Box 7 code.

https://ttlc.intuit.com/questions/1899457-what-do-the-letter-codes-in-box-12-of-my-w-2-mean

https://ttlc.intuit.com/questions/2562809-what-do-all-the-codes-in-box-7-of-the-1099-r-mean

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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