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New Member
posted Mar 10, 2025 11:12:51 AM

turbe taxx states "Simple Roth IRA Plan" but I have a Simple IRA. What is a Simple Roth IRA, is this a missprint?

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1 Best answer
Level 15
Mar 10, 2025 5:39:32 PM

The SECURE 2.0 Act made changes to the tax code that, if permitted by your employer, allow you to elect to make your SIMPLE IRA contributions to a SIMPLE Roth IRA instead of making elective deferrals to a traditional SIMPLE IRA.  You apparently have not made such an election.

1 Replies
Level 15
Mar 10, 2025 5:39:32 PM

The SECURE 2.0 Act made changes to the tax code that, if permitted by your employer, allow you to elect to make your SIMPLE IRA contributions to a SIMPLE Roth IRA instead of making elective deferrals to a traditional SIMPLE IRA.  You apparently have not made such an election.