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June 6, 2019
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Can I deduct employer retirement IRA contributions after I already entered it in from my W-2 or is that deducting twice?

  • June 6, 2019
  • 1 reply
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Best answer by Coleen3

What code did you have in Box 12 of your W-2? The ones below are types of deferred compensation that are normally indicated on your W-2. 

  • Code D -- Elective deferral under a 401(k) cash or arrangement plan. This includes a SIMPLE 401(k) arrangement.
  • E -- Elective deferrals under a Section 403(b) salary reduction agreement
  • F -- Elective deferrals under a Section 408(k)(6) salary reduction SEP
  • G -- Elective deferrals and employer contributions (including nonelective deferrals) to a Section 457(b) deferred compensation plan
  • H -- Elective deferrals to a Section 501(c)(18)(D) tax-exempt organization plan

or 

  • Code AA -- Designated Roth contribution under a 401(k) plan
  • BB -- Designated Roth contributions under a 403(b) plan

None of these are deductible anywhere on the return as they are already getting a tax deferred benefit.

1 reply

Coleen3Answer
Employee
June 6, 2019

What code did you have in Box 12 of your W-2? The ones below are types of deferred compensation that are normally indicated on your W-2. 

  • Code D -- Elective deferral under a 401(k) cash or arrangement plan. This includes a SIMPLE 401(k) arrangement.
  • E -- Elective deferrals under a Section 403(b) salary reduction agreement
  • F -- Elective deferrals under a Section 408(k)(6) salary reduction SEP
  • G -- Elective deferrals and employer contributions (including nonelective deferrals) to a Section 457(b) deferred compensation plan
  • H -- Elective deferrals to a Section 501(c)(18)(D) tax-exempt organization plan

or 

  • Code AA -- Designated Roth contribution under a 401(k) plan
  • BB -- Designated Roth contributions under a 403(b) plan

None of these are deductible anywhere on the return as they are already getting a tax deferred benefit.

June 6, 2019
Code S