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Is a traditional ira the same as a simple ira and if yes do I need to put my simple ira contributions for 2017 into turbotax under the traditional ira spot?

I just need to know if I need to add my simple ira contributions for 2017 into turbo tax and if so where do I enter it?

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Level 15

Is a traditional ira the same as a simple ira and if yes do I need to put my simple ira contributions for 2017 into turbotax under the traditional ira spot?

A SIMPLE IRA is NOT a Traditional IRA and only gets entered in box 12 on your W-2 - nowhere 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.**

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Level 4

Is a traditional ira the same as a simple ira and if yes do I need to put my simple ira contributions for 2017 into turbotax under the traditional ira spot?

Were your SIMPLE IRA Contributions made through your Employer and reported in Box 12 of your W2?
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New Member

Is a traditional ira the same as a simple ira and if yes do I need to put my simple ira contributions for 2017 into turbotax under the traditional ira spot?

box 12 has $4800 in it with an S code but I received a letter from SEI private trust company with a Fair market value statement for a SIMPLE IRA (that they also sent to the IRS) for $7474.86.  So I'm just not sure that I need to list this in turbo tax under the Traditional IRA
Highlighted
New Member

Is a traditional ira the same as a simple ira and if yes do I need to put my simple ira contributions for 2017 into turbotax under the traditional ira spot?

box 12 has $4800 in it with an S code but I received a letter from SEI private trust company with a Fair market value statement for a SIMPLE IRA (that they also sent to the IRS) for $7474.86.  So I'm just not sure that I need to list this in turbo tax under the Traditional IRA or just do nothing with is since I already have something listed on line 12 of the W2
Highlighted
Level 15

Is a traditional ira the same as a simple ira and if yes do I need to put my simple ira contributions for 2017 into turbotax under the traditional ira spot?

A SIMPLE IRA is NOT a Traditional IRA and only gets entered in box 12 on your W-2 - nowhere 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.**

View solution in original post