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TT said I do not qualify for 401k contrib but the plan is qualified. Why not? Also rejected IRA which I understand, can't do both but s/b able to take 401k, correct?

 
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TT said I do not qualify for 401k contrib but the plan is qualified. Why not? Also rejected IRA which I understand, can't do both but s/b able to take 401k, correct?

Your 401(k) contributions are reported on your W-2 in box 12.   You do not enter it anywhere else.  A 401(K) is NOT an IRA.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
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