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March 10, 2025
Solved

turbe taxx states "Simple Roth IRA Plan" but I have a Simple IRA. What is a Simple Roth IRA, is this a missprint?

  • March 10, 2025
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Best answer by dmertz

The SECURE 2.0 Act made changes to the tax code that, if permitted by your employer, allow you to elect to make your SIMPLE IRA contributions to a SIMPLE Roth IRA instead of making elective deferrals to a traditional SIMPLE IRA.  You apparently have not made such an election.

1 reply

dmertzAnswer
Employee
March 11, 2025

The SECURE 2.0 Act made changes to the tax code that, if permitted by your employer, allow you to elect to make your SIMPLE IRA contributions to a SIMPLE Roth IRA instead of making elective deferrals to a traditional SIMPLE IRA.  You apparently have not made such an election.