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WHAT CODE IS USED TO REPORT A TRADITIONAL IRA CONTRIBUTION?

WHAT CODE IN BOX `12 OF MY W2 IS USED TO REPORT A TRADITIONAL IRA CONTRIBUTION
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3 Replies

WHAT CODE IS USED TO REPORT A TRADITIONAL IRA CONTRIBUTION?

see above. 

dmertz
Level 15

WHAT CODE IS USED TO REPORT A TRADITIONAL IRA CONTRIBUTION?

There is no code for reporting a regular traditional IRA contribution, only contributions you make to employer-provided plans (which, as Bsch4477 indicated, can include elective deferrals to a SIMPLE IRA, the amount of which your employer already subtracted from the amount that otherwise would have been reported in box 1 of your W-2).

 

If you are asking about entries in box 12 of a W-2, enter the amounts shown in box 12 of your W-2 only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax.

WHAT CODE IS USED TO REPORT A TRADITIONAL IRA CONTRIBUTION?

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