Is my PERA contribution an IRA contribution?

[rmedlock10]

I live in Colorado and I have PERA instead of social security. The amount contributed is in box 14. Can I claim this as an IRA contribution deduction?

[MargaretL · Accepted solution]

No, your PERA is not considered an IRA contribution. The employer put the the amount if box 14 just for reconciliation purposes but it is not a deduction that you can take separately on your tax return as an IRA contribution. Please do not enter the amount from box 14 as a separate entry in Deductions & Credits section, IRA contributions. All you have to do is to enter your W-2 form exactly as it appears.

However, be sure to go to Deductions & Credits and visit Retirement Savings contribution credit, you may be able to qualify for the credit. 

1. Federal Taxes
2. Deductions & Credits
3. Retirement and Investments, select Retirement Savings Contributions Credits

[Bman14]

Hello,

Where/how do we list PERA on our tax return?

Since no social security is withheld; it makes our taxes look like we're 'skipping out' on paying SS (or PERA) taxes and we owe a lot more.  

Is there some way to show I am a public employee and that's why there is no social security? 

Thanks

[Critter]

OK... stop worrying ... you will enter the W-2 in the program exactly as written ... nothing more.  The IRS gets copies of the W-2 and they already know you will not have entries in boxes 3 & 4 ... nothing you need to tell them. 

[Jonkearsley]

Is there a tax document that should be provided for the PERA contributions we have made in the year? It seems like I am being penalized for not contributing to SS tax. 

[DaveF1006]

A PERA contribution is a pre-taxed contribution that is reported in your W2.  This is the only tax document that the federal government requires reporting this contribution. Most PERA members do not contribute to Social Security while they are working for PERA employers.* If you are eligible for both a PERA benefit and a Social Security benefit, your PERA benefit will never be reduced due to Social Security so no you are not being penalized for not contributing to SS tax. Please read this link for further information.

[allrevedup]

My wife's employer listed the PERA amount in box 14.  Turbotax is asking for a Category.  Which category do I select?

[BillM223]

If your spouse's employer is not Kansas, Massachusetts, or Maine, just put it into "Other".