Irene2805
Expert Alumni

Retirement tax questions

No - you do not have to do anything to report your SIMPLE IRA contributions. 

 

If you participated in a SIMPLE IRA plan through your employer, the amount contributed into the plan is already excluded from your gross income in Box 1 of your W2.  It will show with code S in box 12 of your W-2.

 

It is only considered as income for Social Security and Medicare withholdings. 

 

 

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