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mfrene
New Member

I filed yesterday and found out that I entered the wrong type of IRA on my return. I have a simple Ira, not a traditional Ira. Do I need to amend?

 
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2 Replies
MarilynG1
Expert Alumni

I filed yesterday and found out that I entered the wrong type of IRA on my return. I have a simple Ira, not a traditional Ira. Do I need to amend?

Yes, you probably should Amend your Return.  If your Simple IRA is connected with your Business, it may affect Schedule C and your tax return. 

 

Click this link for info on How to Enter SIMPLE IRA Contributions. 

 

Click this link for instructions on How to Amend a 2019 Return

 

 

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dmertz
Level 15

I filed yesterday and found out that I entered the wrong type of IRA on my return. I have a simple Ira, not a traditional Ira. Do I need to amend?

Contributions to a SIMPLE IRA are not to be entered anywhere under Deductions & Credits.  If the SIMPLE-IRA plan is through your employer who issues to you a W-2, enter amounts shown in box 12 of the W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.  If you did otherwise, you must amend.

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