In the Form 1040 Contributions to an IRA or Roth deduction, it asks whether you contribute to a traditional IRA. If one has already had his 401(k) account from his employer and the contribution amounts can be found in his W-2 box 12, should he answer yes and enter the contribution amounts from his W-2 into the Form 1040? It seems the contribution amounts in the W-2 box 12 have already been deducted from one’s gross income and he cannot take the deductions again. Is it correct? Can you explain it?

A 401k is not an IRA. Your 401k contributions have already been deducted from your taxable income.

Quote:

---

Originally Posted by ScottGem

A 401k is not an IRA. Your 401k contributions have already been deducted from your taxable income.

---

Thanks for your reply. How about the Roth contributions to 401(k) plan in the Box 12 AA of Form W-2? Are the Roth contributions to 401(k) in the Form W-2 Box 12 AA qualified for the Contributions to an IRA or Roth deduction in the Form 1040?