☰
✕
Sign In

Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted May 31, 2019 9:54:09 PM

My 401k contribution is shown on box 12 with an AA

I should be able to deduct this

0 1 4534
1 Best answer
Expert Alumni
May 31, 2019 9:54:10 PM

There are two types of 401(k) plans: traditional and Roth. Contributions to a traditional 401(k) (indicated by code D in Box 12 of the W-2) are tax-deferred. The code AA shown in Box 12 of your W-2 indicates a contribution to a Roth 401(k). Unlike Traditional 401(k) contributions (which are pre-tax), Roth 401(k) contributions are included in income (i.e, not deductible).

For more information, please see IRS Retirement Plans FAQs for Designated Roth Accounts.

1 Replies
Expert Alumni
May 31, 2019 9:54:10 PM

There are two types of 401(k) plans: traditional and Roth. Contributions to a traditional 401(k) (indicated by code D in Box 12 of the W-2) are tax-deferred. The code AA shown in Box 12 of your W-2 indicates a contribution to a Roth 401(k). Unlike Traditional 401(k) contributions (which are pre-tax), Roth 401(k) contributions are included in income (i.e, not deductible).

For more information, please see IRS Retirement Plans FAQs for Designated Roth Accounts.