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New Member
posted Jun 3, 2019 1:49:21 PM

Ira contribution information

I contribute at work to an IRA. Employer deducts from paycheck. I deduct over the 6500 amount. Should I just write the balance under excess. I thought the limit for someone over 50 was 10-20K

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1 Best answer
Level 15
Jun 3, 2019 1:49:23 PM

If it is at work, then it is not an IRA, but an employer sponsored plan that the employer reports on your W-2 in box 12.   That is the only place that it is entered.  It is NOT an IRA contribution.

1 Replies
Level 15
Jun 3, 2019 1:49:23 PM

If it is at work, then it is not an IRA, but an employer sponsored plan that the employer reports on your W-2 in box 12.   That is the only place that it is entered.  It is NOT an IRA contribution.