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Retirement tax questions
"On 12a of my W-2 my employer contributed $1832 to my 408p SIMPLE plan. This was deducted from my total wages and entered in line 1."
The amount shown in with code S in box 12 of your W-2 is your employee elective deferral, not the employer's contribution. Your retirement account statement shows the total of the additions made by both you and your employer.
Enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.
The employer contribution goes nowhere on your tax return.
Nothing about these contributions is to be entered anywhere under Deductions & Credits.
March 12, 2025
7:04 PM