Do I have to file on my Taxes?

[tophdna]

Newbie Question,

I have a Roth IRA with Vanguard (VTI, uses a brokerage account) and I have a deferred comp plan at work 457B that I contributed to in 2016. My question is, do I need to report both of these on my taxes? The Roth is contributed to after taxes and the 457b is before taxes. Thanks in advance!

Also a friend of mine contributes to VTSMX (index fund, mutual fund?) that does not use a brokerage account. Does this person need to report this on their taxes?

Thank you!

[threefive]

The 457 contributions should already be deducted from the wages line on your W2 issued by the company. You'll notice your wages and social security/medicare wages not matching because of this. So you would only report the total wages on line 7 of the 1040 that they provide on the W2. The 457 contributions are already deducted.

You do not have to report contributions to the Roth IRA.