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Level 2
posted Jan 30, 2023 2:18:02 PM

Where would I enter after tax dollars contributed to an employer provided 401k? I'd like to max out my contribution this year.

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1 Best answer
Level 15
Jan 30, 2023 2:46:15 PM

After-tax money contributed to the 401(k) would only be entered in the section for determining any Retirement Savings Contributions Credit, but someone making after-tax contributions to a 401(k) probably doesn't qualify for that credit.

 

Although after-tax contributions to the traditional 401(k) account are different from elective deferrals, it's unlikely that your employer would accept an after-tax contribution made in 2023 as a contribution for 2022.  Allowing that would make a mess of anti-discrimination testing.

 

To be clear, you do not get a deduction for after-tax contributions made to a 401(k).

3 Replies
Level 15
Jan 30, 2023 2:20:52 PM

Employee deferrals to an employer provided 401(k) retirement account can only be made on or before the last day of the calendar year, eg 12/31/2022 for tax year 2022.

Your deferrals are located on your W-2 in box 12 with a code of D.

Level 15
Jan 30, 2023 2:46:15 PM

After-tax money contributed to the 401(k) would only be entered in the section for determining any Retirement Savings Contributions Credit, but someone making after-tax contributions to a 401(k) probably doesn't qualify for that credit.

 

Although after-tax contributions to the traditional 401(k) account are different from elective deferrals, it's unlikely that your employer would accept an after-tax contribution made in 2023 as a contribution for 2022.  Allowing that would make a mess of anti-discrimination testing.

 

To be clear, you do not get a deduction for after-tax contributions made to a 401(k).

Level 2
Jan 30, 2023 2:55:37 PM

Thanks!  I actually was researching the subject on other sites and found exactly as you stated.  Appreciate the response.  Now I know why there's no place to enter it....