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Sergio contributes to his employee-sponsored 401(k) plan. Which of the following is TRUE? A. Contributions...

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Accounting

Sergio contributes to his employee-sponsored 401(k) plan. Which of the following is TRUE?

A. Contributions are deferred for social security and Medicare taxes.

B. Distributions from his 401(k) will be non-taxable.

C. Sergio will benefit from lower taxable income, tax-deferred earnings growth, and deferred taxes.

D. The contribution amount appears on Form W-2, box 14, along with code DD.

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