View Full Version : Do I have to file 401k contributions the year in which I receive them?
reneeshelp
Jan 31, 2009, 04:30 PM
I was wondering if I could file the 401k contribution that I received last year (2008) when I file my 2009 taxes?
MukatA
Jan 31, 2009, 10:20 PM
Any withdrawal from 401(k) is reported as income on the tax return in the year you took the withdrawal. You may also have to pay 10% early withdrawal penalty unless the withdrawal meets the requirements of an exception.
Read Your U.S. Tax Return: Elective Deferrals 401(k) Plans (http://taxipay.blogspot.com/2008/08/elective-deferrals-401k-plans.html)
AtlantaTaxExpert
Feb 2, 2009, 01:31 PM
Your 401K contributions are automatically deducted from your annual income on your W-2.
They are reflected on the W-2 in Box #12 with a "D" code.
More than likely, the difference between your income in Box #1 and the income reported in Box #3 and #5 will be same as the "D" code amount.