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New Member
posted Jan 23, 2025 1:59:38 PM

When entering the prior year Roth IRA Contributions, does that mean company paid portion as well as What I contributed?

0 2 950
2 Replies
Level 15
Jan 23, 2025 2:03:31 PM

If you have a Roth IRA through your employer, the contributions you made will be on the W-2 in box 12.  You do not enter those contributions anywhere else on your tax return.

Level 15
Jan 23, 2025 2:22:23 PM

You must be careful.

 

If you have a Roth account in a 401k or 403b, that is not an IRA, and you are not making IRA contributions.  Employer plans are not IRAs even though they have a similar purpose; they are controlled by different laws and regulations.

 

Some small employers may participate in a "Payroll deduction IRA."  This is a simpler option for the employer than creating a qualified retirement account.  In this case, you directly own the IRA, and contributions may be made by your employer, but they are counted as coming from you.  These follow the rules for IRAs, not 401k or 403b plans.  If you have a payroll deduction IRA, then you treat all the contributions as if they were made by you. 

https://www.irs.gov/retirement-plans/plan-sponsor/payroll-deduction-ira