Being asked how much of amount in W-2 Box 12 went to a SIMPLE Roth IRA. I didn't think a SIMPLE Roth IRA exists. How do I correctly enter my SIMPLE IRA contributions?

Forum|Forum|2 years ago
February 1, 2024
2 replies
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This is being asked during the review of my federal taxes, after having already entered contributions as SIMPLE IRA. It is asking for $ amount contributed to a SIMPLE Roth IRA, with options of total amount, partial amount, $0, or leave blank if not applicable. I only have one item in Box 12 for with code S, so I'm just not sure what action I should take to ensure correct reporting.

TurboTax Deluxe Online

Bsch4477

Employee

That issue is known and should be resolved by next week.

DaveF1006

I would wait until next week. If not resolved by then, please repost this issue.

@emeraldranderson

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LBrown4717

Hello,

This issue appears ongoing. Any advice on how to handle it?

Thanks!

Laura

mglauner

If you made Simple IRA Contributions from your paycheck, you may have a Code S in Box 12 of your W-2. You would not also include that amount in the IRA Contributions section under Deductions and Credits.

You can also make contributions Simple IRA contributions on your own, but those are not deductible. If you did not contribute to a Roth, you could enter $0 or leave the entry blank.

Here's more info on Entering Simple IRA Contributions.

@LBrown4717