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Retirement tax questions
@Chefdstandridge1 , a SIMPLE IRA is a special type of traditional IRA that (until 2023) only permits pre-tax contributions. The employer excludes salary deferrals from the amount in box 1 of your W-2, making tem pre-tax.
Perhaps what you are referring to is not a SIMPLE IRA but is instead a regular traditional IRA and part of your pay is simply directly deposited into your IRA by your employer for you convenience rather than you having to make the deposit yourself. This is called a Payroll Deduction IRA and the contributions are your own, reportable in the Deductions & Credits section of TurboTax:
https://www.irs.gov/retirement-plans/plan-sponsor/payroll-deduction-ira
‎February 2, 2023
3:12 PM