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    jbakabiss's Avatar
    jbakabiss Posts: 3, Reputation: 1
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    #1

    Jan 22, 2007, 07:15 AM
    Do I have to claim 401K on my taxes?
    I started my 401K plan in Oct of 2005. Do you have to claim 401K information on your taxes? When I called Schwabb the other day to increase my contributions a recording noted that the 2006 tax forms would be mailed out on Jan 31st. I'm just confused because I didn't get anything in the mail in 2005 and was just wondering if I would get one now. I have everything I need to file now I just don't want to do it if I am going to have to claim something from this 401K.

    Jennifer
    K_3's Avatar
    K_3 Posts: 304, Reputation: 74
    Full Member
    		  
    #2

    Jan 22, 2007, 07:26 AM
    Are the contributions through your employer? Are you self employed?
    jbakabiss's Avatar
    jbakabiss Posts: 3, Reputation: 1
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    #3

    Jan 22, 2007, 07:34 AM
    I contribute 5% of my income, employer matches 4%
    jbakabiss's Avatar
    jbakabiss Posts: 3, Reputation: 1
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    #4

    Jan 22, 2007, 07:36 AM
    Quote Originally Posted by jbakabiss
    I started my 401K plan in Oct of 2005. Do you have to claim 401K information on your taxes? When I called Schwabb the other day to increase my contributions a recording noted that the 2006 tax forms would be mailed out on Jan 31st. I'm just confused because I didn't get anything in the mail in 2005 and was just wondering if I would get one now. I have everything I need to file now I just don't want to do it if I am going to have to claim something from this 401K.

    Jennifer
    I am not self employed
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #5

    Jan 22, 2007, 07:57 AM
    As long as the funds are still in the plan then there is no tax reporting necessary. That phone nessage was proably a general message for all plan participants, some of whom may have taken distributions during the year.
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