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- Posted So to be clear, contributions to a 403b are not tax deduc... on Retirement tax questions. June 1, 2019 12:49 AM
- Posted Entering $20K in Box 12, code BB from W-2 form has no effect on the federal income tax. Why? Isn't a contribution to a 403B tax deductible? on Retirement tax questions. June 1, 2019 12:49 AM
June 1, 2019
12:49 AM
So to be clear, contributions to a 403b are not tax deductible? <a rel="nofollow" target="_blank" href="https://www.investopedia.com/articles/retirement/10/top-9-benefits-403b-plans.asp">https://www.investopedia.com/articles/retirement/10/top-9-benefits-403b-plans.asp</a>
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June 1, 2019
12:49 AM
Should the $20K entered in Box 12 BB reduce the taxable income on the W2 form? If I replace $20,000 with $0 (as a test), there is no effect on the Federal Tax Due. I thought a 403B contribution would reduce the taxable income.
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