Where do I put the amount I paid into a state retirement plan? or is this something I don't list?

[MargaretL · Accepted solution]

You don't put your state retirement contributions anywhere on your tax return because that amount is already reflected on your W-2 form. All you have to do is enter W-2 form into TurboTax exactly as it appears; no additional entries are needed. 

If you are self-employed, however,  the individual 401K plans are entered in Business Deductions and Credits section. 

[kat92365]

I am a teacher and I never add the amounts they put in my retirement fund bc it is already counted in the W2.  However, in 2023, I paid over 60k into that retirement account bc I wanted to buy some time back.  
(I had taken out the money about 30 years ago, and since I’m trying to retire now, I had to buy it back at this ridiculous amount.  
anyway, can I enter that?  

I got the money by taking a home equity loan and am also paying stupid interest on that loan.  🤦🏼‍♀️

thanks, 

Kat

[VolvoGirl]

You don't enter that anywhere and it is not deductible.  The plan will keep track of it and when you take a pension or distribution it will be prorated and part of it will come out tax free.  That's what I did.  I bought back more time.  

[eleganza]

This is real.