Where do I deduct a tax-qualified annuity payment?

dyancy113384 · ‎February 4, 2020

DaveF1006 · ‎February 4, 2020

Is this an IRA or is it a retirement contribution you make through payroll? Do you make the payment directly or is it deducted through paroll?

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dyancy113384 · ‎February 7, 2020

Believe is it's. We pay directly

DianeC958 · ‎February 7, 2020

If the amount going into the annuity is showing on your W-2 information in Box 12 then the money is going into the account before tax is being charged on it and so it is not tax-deductible.

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dyancy113384 · ‎February 7, 2020

Is not on any W2 We pay it from our checking account.

DianeC958 · ‎February 9, 2020

If it is a qualified annuity it should be classified as an IRA account and you deduct the amount you paid as an IRA contribution.

Federal
Deductions & Credits
Traditional & Roth Contributions

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Where do I deduct a tax-qualified annuity payment?