topic Does W-2 box 14 labeled retirement qualify for a retirement savings credit? in Retirement tax questions

Does W-2 box 14 labeled retirement qualify for a retirement savings credit?

winstonandgeorge — Thu, 06 Jun 2019 05:57:09 GMT

I pay into a employer retirement as what I believe to be a 403b. Where are these contributions reported?

Contributions to a 403(b) plan are reported on your W-2 i...

LindaA — Thu, 06 Jun 2019 05:57:11 GMT

Contributions to a 403(b) plan are reported on your W-2 in Box 12 with code E (or code BB if you have a Roth 4013(b) plan). Box 14 is a catch-all for items that don't have their own box on the W-2. You should enter the information from boxes 12 and 14 on the W-2 entry screen. TurboTax will use this information to automatically see if you qualify for a Saver's Credit.

Note: Anyone who contributes to a retirement plan at work (401(k), 403(b), etc.) or to and Individual Retirement Arrangement (IRA) may qualify for a Retirement Savings Contributions Credit (also called the Saver's Credit). To qualify for the Saver's Credit, you must be a nondependent age 18 or older and not a full-time student. Also, your income must be under a certain threshold based on your filing status (click the screenshot below for details).

Please see the FAQs below for more information.

How do I fill out the Box 12 information from my W-2? https://ttlc.intuit.com/replies/4785646

What is Box 14 on my W-2 for? https://ttlc.intuit.com/replies/3301932

What is the Saver's Credit? https://ttlc.intuit.com/replies/3301263

Re: Does W-2 box 14 labeled retirement qualify for a retirement savings credit?

tr1anglessk — Sat, 16 Apr 2022 14:06:57 GMT

Only contributions that are pre-tax deferrals and (if permitted under the 403(b) plan) Roth 403(b) contributions should be reported in Box 12 of the Form W-2.

Any other contributions – for example, employer contributions or mandatory employee contributions under a governmental plan – are not reported in Box 12. An employer may, but is not required to, report those contributions in Box 14 (Other) of the Form W-2.