Question

I have a SIMPLE IRA myself/my employer contributed to. Did I make any "add'l contributions to qualified retirement accts?" 5498 does not breakdown pre-post tax contribs.

Forum|Forum|5 years ago
July 15, 2020
1 reply
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$1,519.16 = SIMPLE Contribs on 5498
$635 = "BOX 12" on W-2
Turbo Tax states "Don't enter any of the $635.00 in regular elective contributions that Elizabeth made to employer-provided qualified retirement accounts."

Do I take $1519 minus $635 to enter here? Is my 5498 showing total contribs from myself and employer combined?

TurboTax Deluxe Online

D

dmertz

Employee

Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax. The employer contributions to the SIMPLE IRA are to be entered nowhere in TurboTax.