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Level 1
April 2, 2022
Question

W2 questions

  • April 2, 2022
  • 3 replies
  • 3 views

The numbers on my W2 statement do not match the boxes you are describing in the Turbo Tax guide.

Example:  my box 5 states I have paid $350.52 to "Employee contributions/Designated Roth contributions or insurance Premiums"   What is that?  Where does it go on the Turbo Tax lines?

    3 replies

    Level 15
    April 2, 2022

    You have something else---what you are describing is not a W-2.

     

    https://turbotax.intuit.com/tax-tips/irs-tax-forms/what-is-a-w-2-form/L6VJbqWl5

     

    What kind of document do you have and who issued it to you?

    **Disclaimer: Every effort has been made to offer the most correct information possible. The poster disclaims any legal responsibility for the accuracy of the information that is contained in this post.**
    VolvoGirl
    Level 15
    April 2, 2022

    Sounds like you got a 1099R.

    Enter a 1099R under

    Federal Taxes Tab or Personal (Home & Business)

    Wages & Income at the top

     

    Then scroll way down to Retirement Plans and Social Security,

    Then IRA, 401(k), Pension Plans (1099R) - click Start or Revisit

     

    There are 4 boxes.  Be sure to pick the right box for the kind of 1099R you got.

     

    If you are filing a Joint return be sure to pick which person it is for.

     

    Don't enter the bank or broker name and don't try to import it.  It is just as fast and easy to manually enter it.  At the bottom pick -  Change How I enter my Form

    Then on the next screen pick I'll Type it in Myself

     

    ColeenD3
    Level 15
    April 2, 2022

    Your W-2 is actually a 1099-R. How to read your 1099-R.

     

    Here's how to enter your 1099-R:

    1. Open (continue) your return, if you don't already have it open
    2. Locate the Search bar by the magnifying glass icon. Search for 1099-R and select the Jump to link in the search results
    3. Answer Yes on the Did you get a 1099-R? screen
      • If you land on the Review your 1099-R info screen instead, select Add Another 1099-R
    4. Answer any questions until you get to the screen Let's import your tax info. Here you can choose how you want to enter your 1099-R:
      • If your financial institution is a TurboTax 1099 partner, you can import your form. Select your institution from the list and enter your sign-in credentials, then select Get my form to start the import process
      • If you prefer to upload your 1099-R or type in the info yourself, select Change how I enter my form. On the next screen, select your preferred entry method