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Do I always list my traditional IRA contributions? I'm confused about why there is such a high tax break for listing contributions. My employer match contributions?

 
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LindaA
Expert Alumni

Do I always list my traditional IRA contributions? I'm confused about why there is such a high tax break for listing contributions. My employer match contributions?

Make sure you are not entering your retirement plan contribution twice. If you have a retirement plan at work, your contributions are reported on your W-2 in box 12 with one of the codes listed below. You should only enter this information in the W-2 section of TurboTax. 


W-2 Box 12 codes for employer-sponsored retirement plans:

  • D: Contributions to your 401(k) plan
  • E: Contributions to your 403(b) plan
  • F: Contributions to your 408(k)(6) plan
  • G: Contributions to your 457(b) plan
  • H: Contributions to your 501(c)(18)(D) plan
  • S: Contributions to your 408(p) SIMPLE plan
  • AA: Designated Roth contributions under a section 401(k) plan
  • BB: Designated Roth contributions under a section 403(b) plan
  • EE: Designated Roth contributions under a governmental section 457(b) plan


If you have an Individual Retirement Account (IRA) outside of work, follow the instructions in the FAQ below to enter your contributions in TurboTax.

Where do I enter my Traditional or Roth IRA?    https://ttlc.intuit.com/replies/4792466


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