topic If I have an IRA with my company and they match my deduction into the IRA, which one do I have? in Retirement tax questions https://ttlc.intuit.com/community/retirement/discussion/if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1173865#M88829 Mon, 17 Feb 2020 21:40:26 GMT lmbspcl 2020-02-17T21:40:26Z If I have an IRA with my company and they match my deduction into the IRA, which one do I have? https://ttlc.intuit.com/community/retirement/discussion/if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1173865#M88829 Mon, 17 Feb 2020 21:40:26 GMT https://ttlc.intuit.com/community/retirement/discussion/if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1173865#M88829 lmbspcl 2020-02-17T21:40:26Z Re: If I have an IRA with my company and they match my deduction into the IRA, which one do I have? https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1173896#M88832 <P>What is the code in box 12 of the&nbsp;W-2 ?&nbsp;</P> Mon, 17 Feb 2020 21:44:56 GMT https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1173896#M88832 Critter 2020-02-17T21:44:56Z Re: If I have an IRA with my company and they match my deduction into the IRA, which one do I have? https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174581#M88873 Mon, 17 Feb 2020 23:10:22 GMT https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174581#M88873 lmbspcl 2020-02-17T23:10:22Z Re: If I have an IRA with my company and they match my deduction into the IRA, which one do I have? https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174587#M88874 <P>D</P> Mon, 17 Feb 2020 23:10:52 GMT https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174587#M88874 lmbspcl 2020-02-17T23:10:52Z Re: If I have an IRA with my company and they match my deduction into the IRA, which one do I have? https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174612#M88875 <P>You do not have an IRA. &nbsp;You have a 401K or 457 or an employer plan. &nbsp;You only enter it from the W2. &nbsp;Nowhere else. &nbsp;Do not enter it under Deductions.</P> Mon, 17 Feb 2020 23:15:00 GMT https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174612#M88875 VolvoGirl 2020-02-17T23:15:00Z Re: If I have an IRA with my company and they match my deduction into the IRA, which one do I have? https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174639#M88878 <P>Thank you</P> Mon, 17 Feb 2020 23:18:45 GMT https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174639#M88878 lmbspcl 2020-02-17T23:18:45Z Re: If I have an IRA with my company and they match my deduction into the IRA, which one do I have? https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174641#M88879 <P>You have a 401-K plan. The money you&nbsp;contribute is deducted from your wage income as reported in box 1 on your W-2 form. The amount the employer contributes&nbsp;is not reported as income on your W-2 form.</P> <P>&nbsp;</P> <P>As such, all you need to do is enter your W-2 form in TurboTax and you will get a tax benefit from your 401-k, since your pension plan contribution will be deducted from your otherwise taxable income.&nbsp;</P> Mon, 17 Feb 2020 23:19:10 GMT https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174641#M88879 ThomasM125 2020-02-17T23:19:10Z
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topic If I have an IRA with my company and they match my deduction into the IRA, which one do I have? in Retirement tax questions
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https://ttlc.intuit.com/community/retirement/discussion/if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1173865#M88829
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If I have an IRA with my company and they match my deduction into the IRA, which one do I have?
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https://ttlc.intuit.com/community/retirement/discussion/if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1173865#M88829
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Re: If I have an IRA with my company and they match my deduction into the IRA, which one do I have?
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<P>What is the code in box 12 of the&nbsp;W-2 ?&nbsp;</P>
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Re: If I have an IRA with my company and they match my deduction into the IRA, which one do I have?
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https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174581#M88873
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Re: If I have an IRA with my company and they match my deduction into the IRA, which one do I have?
</title>
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https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174587#M88874
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Re: If I have an IRA with my company and they match my deduction into the IRA, which one do I have?
</title>
<link>
https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174612#M88875
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<P>You do not have an IRA. &nbsp;You have a 401K or 457 or an employer plan. &nbsp;You only enter it from the W2. &nbsp;Nowhere else. &nbsp;Do not enter it under Deductions.</P>
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<pubDate>Mon, 17 Feb 2020 23:15:00 GMT</pubDate>
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Re: If I have an IRA with my company and they match my deduction into the IRA, which one do I have?
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<description><P>Thank you</P></description>
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Re: If I have an IRA with my company and they match my deduction into the IRA, which one do I have?
</title>
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https://ttlc.intuit.com/community/retirement/discussion/re-if-i-have-an-ira-with-my-company-and-they-match-my-deduction-into-the-ira-which-one-do-i-have/01/1174641#M88879
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<P>You have a 401-K plan. The money you&nbsp;contribute is deducted from your wage income as reported in box 1 on your W-2 form. The amount the employer contributes&nbsp;is not reported as income on your W-2 form.</P> <P>&nbsp;</P> <P>As such, all you need to do is enter your W-2 form in TurboTax and you will get a tax benefit from your 401-k, since your pension plan contribution will be deducted from your otherwise taxable income.&nbsp;</P>
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