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If I participate in a 401K with my employment but I personally do not contribute anything to it, my employer does only, do I need to claim it?

 
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Accepted Solutions
bwa
Alumni
Alumni

If I participate in a 401K with my employment but I personally do not contribute anything to it, my employer does only, do I need to claim it?

do I need to claim it?

If handled properly your employer should already have excluded their contribution from Box 1 (Wages, tips and other compensation) on your W-2.  If they have, entering the W-2 as provided to you should be the only action required.

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2 Replies
bwa
Alumni
Alumni

If I participate in a 401K with my employment but I personally do not contribute anything to it, my employer does only, do I need to claim it?

do I need to claim it?

If handled properly your employer should already have excluded their contribution from Box 1 (Wages, tips and other compensation) on your W-2.  If they have, entering the W-2 as provided to you should be the only action required.
LeeM
New Member

If I participate in a 401K with my employment but I personally do not contribute anything to it, my employer does only, do I need to claim it?

No, not until you receive a distribution (withdraw funds from your 401-K).

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