Entering the total amount you put into a traditional ira for 2023

[Schwarz]

I put in $600 of my taxed money into a Traditional IRA for 2023. When I put the amount into block, it says I owe money but it was taxed already. Whart am I doing wrong? No, I have only contributed $600 total this year. I have no Roth. It’s a 401k Traditional IRA. I did not come close to the $6500 on contributions. I have already entered my 1099-DIV under Interest and Dividends.

[TomK2023]

Did you enter your contribution by entering information from your W2 Box 12, code D?  Or did you enter that $600 somewhere else?

The 401(k) 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 tax are lower because of your 401(k) plan contributions.