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Asked 1/22/2011

Voluntary contributions to state retirement plans

Voluntary contributions to state retirement plans--what does this means.

If I put in my 401k -line 12 on the W-2 is 1040 and my employer match it with 520.00.
Does the $520 goes for this question--Voluntary contributions to state retirement plans

 
 
 
 
 
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Answer 1/1 - Submitted 4/23/2011

The Voluntary Contribution Retirement Plan is a 403(b) plan (not 401k).

You don't deduct your 401k contributions because the amount you contributed has already been subtracted from the amount of wages reported on your W-2.

 
 
 
 
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