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ds1876
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401k w2 box 12 code D

When I input my 401K contributions into TurboTax Premier desktop in the W2 box 12 code D section

it does not Chage my taxes owed.

why?

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3 Replies

401k w2 box 12 code D

Contributions to an employer sponsored 401(k) are not reported on a tax return.  They are pre-tax contributions.

401k w2 box 12 code D

401K code D.  It comes out of your checks pretax and has already been deducted from the wages in box 1 and you can't deduct it again.  Notice that box 1 should be less than boxes 3&5.

401k w2 box 12 code D

The value in box 12, code D, just defines how much of the wage difference for box 1 was from pre-tax 401k 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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