Is my PERA contribution an IRA contribution?

7 replies
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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?

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MargaretLAnswer

Alumni - Intuit

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.

Federal Taxes
Deductions & Credits
Retirement and Investments, select Retirement Savings Contributions Credits

MargaretLAnswer

Alumni - Intuit

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

Federal Taxes
Deductions & Credits
Retirement and Investments, select Retirement Savings Contributions Credits

Bman14

Level 2

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

Level 15

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.