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jengo88
New Member

If I make contributions to a traditional IRA by way of pre-tax payroll deduction, do I enter that in the IRA deduction area of my tax returns?

 
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KatrinaB
Intuit Alumni

If I make contributions to a traditional IRA by way of pre-tax payroll deduction, do I enter that in the IRA deduction area of my tax returns?

No. Since you make contributions through your employer, you will not need to enter anything in this section. Your contribution amount will be included on your W2 and Turbo Tax will automatically calculate any retirement saving's credit that you qualify for. Please view the Turbo Tax FAQ below for more information about this credit.

 https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/What-Is-The-Savers-Credit-/INF15617.html

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1 Reply
KatrinaB
Intuit Alumni

If I make contributions to a traditional IRA by way of pre-tax payroll deduction, do I enter that in the IRA deduction area of my tax returns?

No. Since you make contributions through your employer, you will not need to enter anything in this section. Your contribution amount will be included on your W2 and Turbo Tax will automatically calculate any retirement saving's credit that you qualify for. Please view the Turbo Tax FAQ below for more information about this credit.

 https://turbotax.intuit.com/tax-tools/tax-tips/Taxes-101/What-Is-The-Savers-Credit-/INF15617.html

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