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June 1, 2019
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Can I claim my retirement plan contributions - TIAA T-C Lifecycle 2035-Inst, and Fidelity FID Ret Govt MM retirement plans on my taxes?

  • June 1, 2019
  • 1 reply
  • 14 views
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Yes, but the way you do it depends on whether it's an employer-sponsored plan (401k, 403b, TSP, etc) or an individual retirement account (IRA or Roth IRA).

Employer-sponsored plan contributions are reported on your W2, Box 12, usually with code "D" or "E." Box 1 of your W2 should be reduced by the amount of your contribution (unless it's a Roth 401k). That's how it is claimed.

IRA contributions are not administered by employers (thus not on your W2), so those are separate interview questions. To enter IRA contributions:

1) Select Federal Taxes in the top menu

2) Select Deductions and Credits just below the top menu

3) Scroll down to Retirement and Investments and select Show More

4) Select Start next to Traditional and Roth IRA Contributions

Hope this helps.

1 reply

Answer
June 1, 2019

Yes, but the way you do it depends on whether it's an employer-sponsored plan (401k, 403b, TSP, etc) or an individual retirement account (IRA or Roth IRA).

Employer-sponsored plan contributions are reported on your W2, Box 12, usually with code "D" or "E." Box 1 of your W2 should be reduced by the amount of your contribution (unless it's a Roth 401k). That's how it is claimed.

IRA contributions are not administered by employers (thus not on your W2), so those are separate interview questions. To enter IRA contributions:

1) Select Federal Taxes in the top menu

2) Select Deductions and Credits just below the top menu

3) Scroll down to Retirement and Investments and select Show More

4) Select Start next to Traditional and Roth IRA Contributions

Hope this helps.

Level 2
June 1, 2019
MANY THANKS! Very helpful!!!!!!!!!!!!!!