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New Member
posted Jan 22, 2020 9:34:44 PM

We're to enter my 403b contribution

0 3 694
3 Replies
Level 15
Jan 23, 2020 4:41:59 AM

Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.  The items in box 12 pertaining to your 403(b) contributions will have code E or code BB.  the amount reported with code E has already been excluded by your employer from the amount in box 1 of your W-2 so you don't get to deduct that again.

New Member
Jan 23, 2020 4:00:51 PM

I entered my 403b contributions on 12a (E)  When I did that my tax due went up.  How is that since that amount is tax deferred?

Level 15
Jan 23, 2020 4:06:40 PM

I don't see how that's possible.  Are you sure that the increase in balance due was not simply due to the amount in box 4 of the W-2 not being sufficient to cover the tax liability being added by the amount in box 1?

 

Try going back and seeing if changing the code E amount to $0 decreases your balance due.  If it does, compare your Form 1040 with and without the actual code E amount to see what is being affected.