Do I include contributions I made to my retirement fund through my employer?

chadphogan — Wed, 05 Jun 2019 02:15:18 GMT

I am a Washington State teacher with a DRS retirement account. May deduct my DRS contributions for the tax year?

No, you don't. They are already included on your W-2 form...

MargaretL — Wed, 05 Jun 2019 02:15:20 GMT

No, you don't. They are already included on your W-2 form. All you have to do is report W2 data in Turbo Tax exactly as it appears on the form.

The plan contributions you elect to make come directly out of your salary. Since the contributions are made with pre-tax dollars, your employer does not include these amounts in your taxable income for the year. At the end of the year, when you receive your W-2 form that shows your earnings, you will notice that your wages subject to federal income (box 1) tax are lower because of your plan contributions (box 12). Since the contributions are not counted in your taxable income to begin with, you do not take a deduction when you file your return.

topic Do I include contributions I made to my retirement fund through my employer? in Retirement tax questions

Do I include contributions I made to my retirement fund through my employer?

No, you don't. They are already included on your W-2 form...