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My regular elective contributions to my retirement savings account doesn’t match what I actually contributed. What I actually contributed is about $500 more.

It’s saying add any additional after tax contributions you made to the Retirement account and don’t input the ($) you already contributed to the account. I went to add up all my auto contributions from each check last year (2024) and it’s about $500 more that the ($) it’s giving me.
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3 Replies
LindaS5247
Employee Tax Expert

My regular elective contributions to my retirement savings account doesn’t match what I actually contributed. What I actually contributed is about $500 more.

If your actual contributions made to your retirement savings account have been reported to you incorrectly, you should contact your employer or plan administrator to find out why and if necessary, have a new form issued to you.

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My regular elective contributions to my retirement savings account doesn’t match what I actually contributed. What I actually contributed is about $500 more.

Okay. My regular elective contributions is lower than what I have actually contributed. So I contact my 401k and confirm with them the amount of regular elective contributions? And the extra amount I add under “additional after tax contributions”?

ThomasM125
Employee Tax Expert

My regular elective contributions to my retirement savings account doesn’t match what I actually contributed. What I actually contributed is about $500 more.

Yes, you have to contact your employer for clarification and a correction if necessary.

 

You can't deduct contributions to your employer 401-K that you make outside of what is reported on your W-2 form. They have to be made by your employer and reported as such on your W-2 form. So, if you believe they were not reported correctly your two choices are to report what is on the W-2 form or get the W-2 form corrected. You should not make an additional entry in TurboTax to make up for what your employer did not report.

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