TurboTax asks, how much retirement contributions from a Box12 code S entry when to a "SIMPLE Roth IRA plan." But, can't a SIMPLE IRA NOT be a Roth IRA?
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TurboTax asks, how much retirement contributions from a Box12 code S entry when to a "SIMPLE Roth IRA plan." But, can't a SIMPLE IRA NOT be a Roth IRA?
The Exact wording of the TurboTax question: "How much of the $XXXX in retirement contributions from your W-2 (box 12) went to a SIMPLE Roth IRA plan?"
posted
February 6, 20259:03 AM
last updated
February 06, 20259:03 AM
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TurboTax asks, how much retirement contributions from a Box12 code S entry when to a "SIMPLE Roth IRA plan." But, can't a SIMPLE IRA NOT be a Roth IRA?
The SECURE 2.0 Act made SIMPLE Roth IRAs possible. Prior to that change only traditional SIMPLE IRAs were possible.