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February 3, 2025
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When it is asking for how much of my Box 12 retirement contributions went to a SIMPLE Roth IRA plan, is it asking for the pre or post tax contributions?

  • February 3, 2025
  • 1 reply
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    Best answer by dmertz

    Sort of, but it's asking about the type of account to which the contributions were made.  Contributions to a traditional SIMPLE IRA can only be pre-tax contributions while contributions to a SIMPLE Roth IRA can only be after-tax contributions.  Because both are reported the same way on your W-2 as if they were pre-tax, TurboTax needs to know if the contribution was actually to a SIMPLE Roth IRA so that it can be added back to your taxable income.

     

    If you don't know if your SIMPLE account is traditional or Roth, check your year-end statement or ask the IRA custodian.

    1 reply

    dmertzAnswer
    Employee
    February 3, 2025

    Sort of, but it's asking about the type of account to which the contributions were made.  Contributions to a traditional SIMPLE IRA can only be pre-tax contributions while contributions to a SIMPLE Roth IRA can only be after-tax contributions.  Because both are reported the same way on your W-2 as if they were pre-tax, TurboTax needs to know if the contribution was actually to a SIMPLE Roth IRA so that it can be added back to your taxable income.

     

    If you don't know if your SIMPLE account is traditional or Roth, check your year-end statement or ask the IRA custodian.