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Does the LifePath2060 plan offered by my emplee count as an IRA deduction. If not what would it fall under?
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It's extremely unlikely that contributions to this plan be IRA contributions that are deductible on your tax return.
LifePath Index 2060 is a Blackrock mutual fund. IF these are pre-tax contributions that you made to this plan, they will likely already be excluded from the amount in box 1 of your W-2 and therefore already tax deferred. Retirement contributions shown in box 12 of your W-2 are not IRA contributions that are deductible on your tax return. Any matching contributions made by your employer are not reportable on your tax return.
In rare cases an employer will offer to make IRA contributions on your behalf as part of the direct deposit of your pay. In these cases it would be the same as if the money had been paid to you and you yourself made the IRA contribution that would be reportable on your tax return.
Retirement contributions that came from your pay might make you eligible for a Retirement Savings Contributions Credit. With regard to this credit, TurboTax will automatically consider amounts reported in box 12 of your W-2.
Ask your employer what kind of retirement plan you have. It's very likely that it's a 401(k) plan, not an IRA.
