Question

Traditional and Roth IRA section

Forum|Forum|2 years ago
February 9, 2024
2 replies
0 views

Hello,

Total newbie here.

On Deductions and Credits section - Traditional/Roth IRA.

I don't remember filling up this section last year where you choose Traditional, Roth or None of the Above. Can I choose "None of the Above" . I don't know what IRA I have or where to get those values.

Thank you.

VolvoGirl

Employee

Did you make a IRA contribution? You would enter the amount you sent in, like from your bank account. If you have a IRA look at the statement and see if it is a Traditional or ROTH or call the IRA plan. If it is deducted from your wages it is not a IRA but another kind of plan. Then only enter it from the W2, nowhere else.

C

clowkoyAuthor

Thanks for the reply.

Yes, it's a percentage deducted from my wage every paycheck and it's even managed by the retirement company. So you mean I can select the "None of the Above" option?

R

RobertB4444

No, all you have to do is enter the information from your W2. When you're typing in the W2 info there are amounts in box 12 that are related to your retirement account. The program will take care of it from there - you don't need to enter anything else.

@clowkoy

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