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FMTC CUSTODIAN SIMPLE IRA

can I deduct my contributions to this plan?
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dmertz
Level 15

FMTC CUSTODIAN SIMPLE IRA

Unless you are self-employed and this is a SIMPLE IRA created under your self-employment business, no, you cannot deduct these.  Your employer will (or should) have already excluded from box 1 of your W-2 amounts reported with code S in box 12.

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1 Reply
dmertz
Level 15

FMTC CUSTODIAN SIMPLE IRA

Unless you are self-employed and this is a SIMPLE IRA created under your self-employment business, no, you cannot deduct these.  Your employer will (or should) have already excluded from box 1 of your W-2 amounts reported with code S in box 12.

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