tax bleg

[gusl]

I think I haven't been claiming my 401(k) contributions for the past several years. Every year, my employer sends me a W2 and my bank sends me a 1099, but my IRAs never send me anything. Am I supposed to keep track of my yearly contributions by myself? How many years can I put this off, before I can claim them all at once?

Comments

[bittercrackbaby.livejournal.com]

If you contributed to the 401k in your current year, you would be receiving a W2 with (Salary - 401k contributions) as your taxable income.

Your 401k is completely tax deferred until you take money out of it. You won't see a tax forum unless you receive a distribution (early withdrawl or you elect to roll it over into a new retirement plan).

Your 401k plan administratator typically should be sending you statements once a quarter, and should be happy to answer any questions about it.