Good Day,
I received my W2 form which contains 401k contribution and D in box 12. Additionally, it contains a retirement plan checkmark in box 13. I entered the W2 data into TurboTax manually exactly as it appears in the W2 form.
Now I am in the Deductions and Credits, Retirement and Investments" series of questions. Replied yes to the question that reads "Do you have retirement ..." and "Did (name) contribute to Traditional IRA" questions.
I assume I need to record the W2, D—Elective deferrals to a section 401(k) amount? Yes?
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Do not enter that retirement contribution again. You entered it when you entered your W-2. That is the only place that you enter that information.
And just to be clear, a 401(k) is not an IRA.
Yes, error in my explanation. Realized it after I typed it.
Thanks!
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