[{"data":1,"prerenderedAt":7},["ShallowReactive",2],{"faq-standard-7936":3},{"rec_id":4,"title":5,"text":6},"7936","457(b) Plans","457(b) plans are very similar to \u003Ca href=\"/freefile2025/answers?faq=3071\">401(k) Plans\u003C/a>.\u003Cbr>\u003Cbr> Your 457(b) contributions reduce your wages in \u003Ci>Box 1\u003C/i> of your \u003Cspan style=\"white-space: nowrap;\">\u003Ci>W-2\u003C/i>\u003C/span>. Since your income is already reduced by your 457(b) contributions, you do not get a separate deduction on your tax return for 457(b) contributions. \u003Cbr>\u003Cbr>\nDo NOT report interest income, dividend income, capital gains, or any type of income from your 457(b) account. All investment income within a 457(b) retirement account is not taxable income on your tax return and does not get reported anywhere on your tax return. A 457(b) account is only taxed when you take a distribution from your 457(b) account and get a \u003Ci>Form 1099-R\u003C/i>.",1777391472656]