Hello- If i contribute to a Roth IRA by way of my employers 401k plan do I still enter yes that I contributed to a Roth IRA? We took advantage of the covid 401k withdrawl and it seems to have put us over the limit for Roth contributions. TT is telling me I can withdraw it but when I called the firm that manages the retirement plan they said there is a difference and it is not a "Roth IRA" it is ""401K Roth IRA". So should I just not check the box referring to Roth IRA
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The Roth account in your employer's 401(k) plan is not a Roth IRA. Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax. Go back and remove this from where you entered it under Deductions & Credits.
The Roth account in your employer's 401(k) plan is not a Roth IRA. Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax. Go back and remove this from where you entered it under Deductions & Credits.
Do not check the box referring to a Roth IRA. Please see the explanation given by Champ Opus 17 in an answer to a similar question: Is Roth 401k contributions the same as Roth IRA?
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