IRA deduction

maestro777 · ‎March 29, 2021

I have a payroll deduction into a simple IRA. Where do I claim that?

macuser_22 · ‎March 29, 2021

If you are an employee then it should already be reported in box 12, code S, on your W-2. You do not report it anywhere else.

**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**

MinhT1 · ‎March 29, 2021

Your contribution to your Simple IRA has already bee deducted from your taxable wages reported in box 1 of Form W-2. It is automatically excluded from taxation.

You do not have to claim it elsewhere on your tax return.

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