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New Member
posted Apr 3, 2024 5:30:19 PM

If money is coming our of my paycheck for retirement, is it considered a traditional IRA and is tax deductible?

0 2 2427
2 Replies
Expert Alumni
Apr 3, 2024 5:35:26 PM

It probably is not for an IRA, but it could be.  What codes are in Box 12 of your w-2?   

Level 15
Apr 3, 2024 5:38:20 PM

If it's on your W2 you only enter it from the W2, nowhere else.  If it's on your W2 it is NOT a IRA.