turbotax icon
cancel
Showing results for 
Search instead for 
Did you mean: 
Announcements
Close icon
Do you have a TurboTax Online account?

We'll help you get started or pick up where you left off.

Should I still enter my IRA contributions in the designated deductible section if I am covered by an employee plan?

 
x
Do you have an Intuit account?

Do you have an Intuit account?

You'll need to sign in or create an account to connect with an expert.

2 Replies

Should I still enter my IRA contributions in the designated deductible section if I am covered by an employee plan?

Yes for Traditional IRA and ROTH IRA contributions.  Don't enter any SIMPLE IRA that come out of your paychecks.  Only enter SIMPLE from your W2 (it will be in box 12 code S).

Should I still enter my IRA contributions in the designated deductible section if I am covered by an employee plan?

your regular IRA may be deductible depending on your income.

 

If it is not, you may want to correct that otherwise you have to file Form 8606 and carry a basis in IRAs.

 

@trshelby01 

Unlock tailored help options in your account.

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question