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Asked 1/12/2010
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I have only had 401 for 9 months, do I need to file the amount I put into the account on my taxes for this year? If so, which form do I need to use? I have only had 401K for about 9 months, do I need to file it on my taxes? If so, which form do I need to use? |
Answer 2/2 - Submitted 1/12/2010
Contributions to your 401(k) do not show on your tax return, unless you've done something wrong like putting too much in (the 401(k) contribution limit is $16,500 if you're under age 50) or unless you are eligible for the Retirement Savings Contribution Credit (for more, see IRS website -- http://www.irs.gov/retirement/participant/article/ 0,,id=211619,00.html .
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