W2 401k, Box 12 recording in TurboTax

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?

481

Level 15

Feb 13, 2024 6:45:17 AM

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.

Level 15

Feb 13, 2024 8:12:39 AM

And just to be clear, a 401(k) is not an IRA.

Level 2

Feb 13, 2024 12:12:41 PM

Yes, error in my explanation. Realized it after I typed it.

Thanks!

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W2 401k, Box 12 recording in TurboTax