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RE: "SIMPLE Roth IRA Plan" contributions. TurboTax is asking "how much of my retirement contributions went to a "SIMPLE Roth IRA" plan. The IRS says Roths cant be SIMPLE?
I know my retirement plan has always been referred to as a "SIMPLE Plan" but TurboTax for 2023 is adding in their section "SIMPLE Roth IRA" plan, which the IRS seems to indicate that Roth IRA's can NOT be a SIMPLE Plan. I'm not sure how to answer this TurboTax prompt.
https://www.irs.gov/retirement-plans/plan-sponsor/simple-ira-plan
https://www.irs.gov/retirement-plans/plan-sponsor/simple-ira-plan
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March 2, 2024
10:11 AM