topic Box 13 retirement plan in Retirement tax questions

Box 13 retirement plan

rhianhill — Thu, 06 Jun 2019 05:16:22 GMT

I paid into a retirement plan and box 13 was checked on my W2. Should I enter the amount I paid into this plan somewhere?

No. All you need to do is enter your w-2 information into...

Belling — Thu, 06 Jun 2019 05:16:23 GMT

No. All you need to do is enter your w-2 information into TurboTax exactly as it appears on your w-2, under the wages & income section.

If Box 13 was checked for Retirement plan this means that you participated in your employer's retirement plan during the year. This might be a 401(k) plan, 403(b) plan, SEP-IRA, SIMPLE-IRA, or other type of pension plan. If you participate in a retirement plan, your ability to deduct contributions to a traditional IRA may be limited based on your income.

Your retirement plan contributions were taken out of your paycheck pre-tax and have already been deducted from your gross wages in box 1 on your W2, so you will not be taxed on these amounts.

TurboTax will ask you all the appropriate questions for this situation and as long as you enter your w-2 in properly, your retirement contribution amounts have already been handled by TurboTax and any deduction or credit (The Retirement Savings Contribution Credit) you are eligible for is automatically applied after your w-2 form information is properly entered.

Do not enter your contribution amounts elsewhere in TurboTax if they were already included on your w-2 form.

I have attached a Word document that explains every line and box and code on a w-2 form, for a better understanding of what work TurboTax does behind the scenes, when you enter your w-2 information.

On my retirement form 1099-R you ask me to enter state/pa...

ianbyrnes — Thu, 06 Jun 2019 05:16:28 GMT

On my retirement form 1099-R you ask me to enter state/payer's state no. which is located in box 13. When I try to enter that number it does not work.

Re: No. All you need to do is enter your w-2 information into...

mjenx — Mon, 12 Apr 2021 00:48:36 GMT

This information should be available in the Deductions & Credits section where it asks if you made contributions to a qualified retirement plan. I've been wondering how TurboTax calculated a credit in this area when I never entered any retirement contributions, and my W2 doesn't list any contribution amount that coincides with the Box 13 checkmark. I've been searching for this answer for 20 minutes and finally found it here. There is no info button available on those screens to help answer this question.