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AMQ
New Member

401(k) both Traditional and Roth contributions didn't change AGI

My W2 box12 has the following symbols (C, D, W, AA)
In 2023 I was close to reached the IRS limit of 401k contributions, have put $10642.90 in the traditional pre-taxed  401(k), though my AGI didn't reduced with $10642.90 pre-taxed 401(k) contribution.

 

What would be the problem?

Do I need to specify them somewhere else while filing through Turbotax online?

My Order Number: TTWCB277262150

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1 Best answer

Accepted Solutions
MinhT1
Expert Alumni

401(k) both Traditional and Roth contributions didn't change AGI

In TurboTax, you do not need to enter contributions you made to your 401(k) plan at work.

 

These contributions are already reported on your form W-2 in box 12 with code D and have already been excluded from taxation in the amount reported in Box 1 of your W-2. Therefore, you'll not see a decrease in AGI as the reduction is already made in box 1 of your form W-2.

 

Please check that your W-2 has the amount of your 401(k) contributions in box 12 code D and enter your W-2 in TurboTax as received.

 

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1 Reply
MinhT1
Expert Alumni

401(k) both Traditional and Roth contributions didn't change AGI

In TurboTax, you do not need to enter contributions you made to your 401(k) plan at work.

 

These contributions are already reported on your form W-2 in box 12 with code D and have already been excluded from taxation in the amount reported in Box 1 of your W-2. Therefore, you'll not see a decrease in AGI as the reduction is already made in box 1 of your form W-2.

 

Please check that your W-2 has the amount of your 401(k) contributions in box 12 code D and enter your W-2 in TurboTax as received.

 

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
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