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April 13, 2025
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Do I need to include anything in my taxes about a Simple IRA this first year (2024) of starting it, with no distributions?

  • April 13, 2025
  • 1 reply
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Confused that TurboTax only refers to Roth and Traditional IRAs, nothing about Simple IRAs.
Best answer by RachelW33

If there were no distributions from your SIMPLE Plan, the only place you need to enter the information is in the W2 section.  It should be reported in Box 12a with Code S on your Form W2.  The amount that you contributed to the SIMPLE Plan has already been deducted from your taxable wages in Box 1 of your Form W-2. 

1 reply

RachelW33
RachelW33Answer
April 13, 2025

If there were no distributions from your SIMPLE Plan, the only place you need to enter the information is in the W2 section.  It should be reported in Box 12a with Code S on your Form W2.  The amount that you contributed to the SIMPLE Plan has already been deducted from your taxable wages in Box 1 of your Form W-2. 

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