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New Member
posted Feb 18, 2021 10:02:58 AM

I contributed to a Roth IRA and my employer matched my contributions into a traditional IRA, does that count towards me contributing to my traditional IRA?

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3 Replies
Expert Alumni
Feb 18, 2021 10:29:55 AM

No, since your employer made the Traditional IRA contributions for you, you can't claim a deduction from your income for contributions you didn't make.

 

Any employer match does not count toward the contribution limit, so you can still contribute up to the limit of $6,000 (an extra $1,000 is allowed if over 50).  You can still do this, up to the tax filing deadline.  

 

You may want to consider making contributions yourself first into your Traditional IRA, since it is a tax deduction for you, and max out your contribution limits, before contributing to your Roth IRA. 

 

Click this link for more info on Retirement Savings

Level 15
Feb 18, 2021 10:33:16 AM

Are you sure your employer put it in a Traditional IRA?  Employers don't usually do that.  They probably put it in a 401K or 403b or 457 plan.  Ask your employer to be sure.  Is it on your W2 like in box 12?  Only enter it from the W2, nowhere else. 

Level 15
Feb 18, 2021 10:44:17 AM

Your employer's retirement plan is not an IRA.

 

As VolvoGirl said, enter amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.