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sallydyer57
March 31, 2021
Question

How do I get Turbotax to stop treating my Roth 401K contribution as a Roth IRA contribution?

  • March 31, 2021
  • 1 reply
  • 0 views
I have a code for Box 12 of AA: Designated Roth contributions under a 401(k) plan

1 reply

DoninGA
DoninGA
Employee
March 31, 2021

Since your W-2 has your Roth 401(k) contributions in box 12, you do not enter those contributions anywhere else on the tax return.

S
sallydyer57Author
March 31, 2021

The problem is that TurboTax is assessing a penalty as if I contributed too much based on the limits for a Roth IRA, not a 401(k)

DoninGA
DoninGA
Employee
March 31, 2021
@sallydyer57 wrote:

The problem is that TurboTax is assessing a penalty as if I contributed too much based on the limits for a Roth IRA, not a 401(k)

Back up...Are you also entering Roth IRA contributions in the section for IRA's along with having Roth 401(k) deferrals on the W-2?

What penalty is the program saying you will have?

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