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We both contribute to 401k. Is this deductible and where is it listed on the W2

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Best answer by SteamTrain

As long as it was not a ROTH 401k contribution:

then On your W-2, box 1 should be lower than box 5 by at least the amount you contributed.

and box 12 should have a code "D" with the $$ amount you contributed.

The W-2 form is the only place to enter those $$ in the software...nowhere else

(There is a separate place for IRA contributions...but a 401k is NOT an IRA)

Employee

As long as it was not a ROTH 401k contribution:

then On your W-2, box 1 should be lower than box 5 by at least the amount you contributed.

and box 12 should have a code "D" with the $$ amount you contributed.

The W-2 form is the only place to enter those $$ in the software...nowhere else

(There is a separate place for IRA contributions...but a 401k is NOT an IRA)

____________*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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