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    reneeshelp's Avatar
    reneeshelp Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Jan 31, 2009, 04:30 PM
    Do I have to file 401k contributions the year in which I receive them?
    I was wondering if I could file the 401k contribution that I received last year (2008) when I file my 2009 taxes?
    MukatA's Avatar
    MukatA Posts: 7,110, Reputation: 176
    Tax Expert
    		  
    #2

    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
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #3

    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.
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