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jamesjr-baladez
February 4, 2025
Question

I contributed 12374.67 to a Roth 401K, and my company contributed 10239.73 to my Traditional 401K. How does that effect my taxes.

  • February 4, 2025
  • 2 replies
  • 0 views
When it goes through turbo tax it says that I have contributed over my $7000 limit for Roth IRA but it went into a 401K.

    2 replies

    DoninGA
    DoninGA
    Employee
    February 4, 2025

    Your contributions to the Roth 401(k) are only entered on your W-2 in box 12 with a code AA.  Those contributions are not entered anywhere else on a tax return.

    SteamTrain
    SteamTrain
    Employee
    February 4, 2025

    i.e............... a 401k is NOT an IRA. 

    Other than being retirement accounts, they are different beasts with mostly different contribution rules.

    ____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
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