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Is the mandatory 9.5% of my gross monthly check Before Tax-Deductions amount, on my Earning Statements, for retirement, deductible?
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Is the mandatory 9.5% of my gross monthly check Before Tax-Deductions amount, on my Earning Statements, for retirement, deductible?
You report the W-2 with all the boxes completed and this does not get entered anywhere else in TurboTax.
You are part of a defined benefit plan and the amount paid in as your contributions will not be taxed when you start drawing your retirement. So, the 9.5% is not deductible on your tax return when you are paying it in.
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Is the mandatory 9.5% of my gross monthly check Before Tax-Deductions amount, on my Earning Statements, for retirement, deductible?
You report the W-2 with all the boxes completed and this does not get entered anywhere else in TurboTax.
You are part of a defined benefit plan and the amount paid in as your contributions will not be taxed when you start drawing your retirement. So, the 9.5% is not deductible on your tax return when you are paying it in.