As an owner/employee of S Corp, do i need to enter SIMPLE IRA contribution in "Self-Employment Retirement Plans" section, even though the contribution is included in W-2?

jgpark · ‎January 15, 2023

dmertz · ‎January 15, 2023

No, you do not enter anything in the self-employed retirement plans section. You are not self-employed. You are an employee of the S-corp. Deductions for contributions to the SIMPLE IRA are to be reported on the S-corp's tax return.

View solution in original post

Anonymous_ · ‎January 15, 2023

See https://www.irs.gov/instructions/i1120s#en_US_2021_publink11515kd0e3240

dmertz · ‎January 15, 2023

No, you do not enter anything in the self-employed retirement plans section. You are not self-employed. You are an employee of the S-corp. Deductions for contributions to the SIMPLE IRA are to be reported on the S-corp's tax return.

Expert does your taxes

Do it yourself

Resources

Support

As an owner/employee of S Corp, do i need to enter SIMPLE IRA contribution in "Self-Employment Retirement Plans" section, even though the contribution is included in W-2?

As an owner/employee of S Corp, do i need to enter SIMPLE IRA contribution in "Self-Employment Retirement Plans" section, even though the contribution is included in W-2?

As an owner/employee of S Corp, do i need to enter SIMPLE IRA contribution in "Self-Employment Retirement Plans" section, even though the contribution is included in W-2?

As an owner/employee of S Corp, do i need to enter SIMPLE IRA contribution in "Self-Employment Retirement Plans" section, even though the contribution is included in W-2?

Unlock tailored help options in your account.

Get more help

Do you have a TurboTax Online account?

As an owner/employee of S Corp, do i need to enter SIMPLE IRA contribution in "Self-Employment Retirement Plans" section, even though the contribution is included in W-2?

Do you have an Intuit account?

As an owner/employee of S Corp, do i need to enter SIMPLE IRA contribution in "Self-Employment Retirement Plans" section, even though the contribution is included in W-2?

As an owner/employee of S Corp, do i need to enter SIMPLE IRA contribution in "Self-Employment Retirement Plans" section, even though the contribution is included in W-2?

As an owner/employee of S Corp, do i need to enter SIMPLE IRA contribution in "Self-Employment Retirement Plans" section, even though the contribution is included in W-2?

Unlock tailored help options in your account.

Get more help

Related Content

Thank you for helping us improve the TurboTax Community!

Sign in to Turbotax

File your taxes, your way

Access additional help, including our tax experts

Post your question

Connect with an expert