Skip to main content
TurboTax
Community
TurboTax
Community
TurboTax
Community
C
codyparris21
February 13, 2025
Question

Can $500.00 placed into a retirement plan be deducted from my taxes?

  • February 13, 2025
  • 1 reply
  • 0 views
I work for a city wastewater treatment plan and I contributed $500.00 to their retirement plan. I was wondering if that counts since it isn't a 401(k).

    1 reply

    M
    mglauner
    February 13, 2025

    Yes, your contributions to your employer's Retirement Plan are deductible.

     

    If you contributed through Payroll Deductions, this amount will show on your W-2 in Box 12, so you won't need to enter it elsewhere.  

     

    TurboTax will tell you if you're eligible for the Saver's Credit for your contribution.

     

    If you contributed on your own with after-tax funds, enter the amount under Deductions & Credits > Retirement Savings Contribution Credit. 

     

    Here's more info on Retirement Plans.

     

     

    TurboTax Sign In Widget
    TurboTax flag icon

    Unlock tailored help options in your account

    Create an account
    TurboTax Expert Assist
    TurboTax Expert

    Get answers to all your tax questions

    Our experts are available on-demand, no appointment needed. Get help all year long with TurboTax Expert Assist.

    Terms & ConditionsAccessibility statement
    Intuit
    TurboTax Credit Karma QuickBooks MailChimp

    ©1997-2022 Intuit, Inc. All rights reserved.
    Intuit, QuickBooks, QB, TurboTax, ProConnect, and Mint are registered trademarks
    of Intuit Inc. Terms and conditions, features, support, pricing, and service options
    subject to change without notice.

    Security Certification of the TurboTax Online application has been performed by
    C-Level Security.

    By accessing and using this page you agree to the Terms of Use.

    Accessibility

    TRUSTe nResult Certified e-File C-Level Security Certification