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aschepe
New Member

My contributions to my 401K were already included on my W-2, but when I add them again in the "deductions and credits" section it increases my taxes for a second time.

My 401K contributions were already included on my W-2, so it doesn't make sense to me that my federal taxes would increases when I enter them for a possible deduction as well.
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My contributions to my 401K were already included on my W-2, but when I add them again in the "deductions and credits" section it increases my taxes for a second time.

Go back and take out those entries on the Deductions&Credits page

IF you read it a bit closer it says it is for "IRA" and "ROTH IRA" contributions.

..................A 401k is NOT an IRA ! ! !

Any contributions entered with your W-2 a do not get entered anywhere else

_________________________________
The increase you saw may have been a penalty for disallowed contributions..

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*

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1 Reply

My contributions to my 401K were already included on my W-2, but when I add them again in the "deductions and credits" section it increases my taxes for a second time.

Go back and take out those entries on the Deductions&Credits page

IF you read it a bit closer it says it is for "IRA" and "ROTH IRA" contributions.

..................A 401k is NOT an IRA ! ! !

Any contributions entered with your W-2 a do not get entered anywhere else

_________________________________
The increase you saw may have been a penalty for disallowed contributions..

____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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