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

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

We contributed to a SIMPLE IRA and not a ROTH IRA or Traditional IRA. Does that qualify like a ROTH oor traditional IRA?

Does it qualify?
Connect with an expert
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.

1 Reply
dmertz
Level 15

We contributed to a SIMPLE IRA and not a ROTH IRA or Traditional IRA. Does that qualify like a ROTH oor traditional IRA?

Do not enter the SIMPLE IRA contributions anywhere under Deductions & Credits.  A SIMPLE IRA contribution with respect to self-employment is entered under Wages & Income -> Business Items -> Business Deductions and Credits -> Self-employed retirement plans.

 

If the SIMPLE IRA contribution was made through an employer that provides a W-2, enter the amount with code S in box 12 of the W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax, 

message box icon

Get more help

Ask questions and learn more about your taxes and finances.

Post your Question
Manage cookies