What number do I use to answer Traditional IRA and Roth IRA?

jacobson-amanda · ‎January 24, 2023

I already entered my W2 stated retirement numbers (box 12). Why is it asking me what IRA I own for 2022?

DanaB27 · ‎January 24, 2023

Some people contribute a work retirement account like 401(k) (listed on your W-2) and an IRA (traditional or Roth IRA). If you did not make any contribution to an IRA then you do not need to enter any information in this section.

Please see What's the difference between a traditional IRA and a Roth? and IRS IRA Contribution Limits for additional information.

Please be aware you can make 2022 IRA contributions until April 18, 2023.

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dmertz · ‎January 24, 2023

Amounts shown in box 12 of your W-2 are to be entered only in box 12 of TurboTax's W-2 form, nowhere else in TurboTax. The traditional and Roth IRA contributions that you would enter under Deductions & Credits are those you might have made separately from any contributions to an employer plan.