turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

nfoy20
New Member

When it asks for my IRA contribution, does that include the money I have going into my 401k from my check?

I have 15% going into my 401k and 10% into my Roth IRA. But I’m unsure what turbo tax is asking with these questions. 
When it asks for my IRA contribution, does that include the money I have going into my 401k from my check? When it asks how much I’ve contributed to my 401k, where would I find that number? When it asks how much I’ve contributed to my Roth IRA, where would I find that? Where do I find how much my company has matched going into my 401k or Roth IRA?
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

When it asks for my IRA contribution, does that include the money I have going into my 401k from my check?

No, you do not enter your contributions to an employer provided tax deferred retirement plan in the section for IRA contributions.  Those contributions are already entered on your W-2 in box 12 and are not entered anywhere else on your tax return.

 

When it asks for my IRA contribution, does that include the money I have going into my 401k from my check?

Employer plans (401k, 403b, 401a, 457, and others) are not IRAs and are only reported on your W-2.   

 

Are you contributing to a pre-tax 401(k) and a private Roth IRA outside your employment, or are you contributing pre-tax funds to a traditional 401(k) account and after-tax funds to a "designated Roth account" within the same 401(k) plan?  If a private Roth IRA, you can report that separately, but if you have a designated Roth option account within the 401k plan, that is already reported on your W-2 and you don't enter it again. 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question