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Box 13 and my IRA
I am self employed and this year I was paid to be in a Movie. The compensation amount was small but the talent company provided me with a W-2 with box 13 "retirement plan" checked. Even though I didn't make much on the movie I cannot deduct the amount I contributed to my IRA (which is ten times more than I made on the movie) I checked and the retirement plan they are referring to is the Screen Actor's Guild pension plan but I didn't even make enough to be allowed to contribute. So am I really covered by a "retirement plan" if I can't contribute to it? (my self employed income is more than $123,000.00
May 29, 2020
7:21 AM