I have a simple IRA form from work that gets deducted from my check. Where do I imput the info?

[anna1]

Can I use this as an income deduction since it is taken out of my paycheck every two weeks? The form is a 5498 IRA contribution information form.

[KenH1 · Accepted solution]

A Simple IRA a retirement plan provided by your employer, so it is accounted for on your W2.

Employee deferrals made through your employer are reported on your W-2 in boxes 12 with code S.  Enter this only on TurboTax's W-2 form.  Employer contributions are not reported anywhere on your tax return.

Do not report Simple IRA contributions under Deductions & Credits. This is for Traditional and Roth IRAs only.

Form 5498 is informational only.

Hope this helps.