- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Why am I asked the question to input information on my iras, Roth and traditional if i inputting this from my W2. Isn’t this a duplication?
Why in turbo tax am I asked the question to input information on my iras, Roth and traditional if i inputting this from my W2. Isn’t this a duplication?
Topics:
2 Replies
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Why am I asked the question to input information on my iras, Roth and traditional if i inputting this from my W2. Isn’t this a duplication?
Your W-2 reports on wages and taxes withheld by your employer.
This has nothing to do with IRAs.
IRA distributions are reported on form 1099-R.
If you entered the same numbers in two different places, it very likely would duplicate the amounts.
Where do you see any reference to an IRA, Roth or traditional, in the W-2 interview?
**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"
**Mark the post that answers your question by clicking on "Mark as Best Answer"
- Mark as New
- Bookmark
- Subscribe
- Subscribe to RSS Feed
- Permalink
- Email to a Friend
- Report Inappropriate Content
Why am I asked the question to input information on my iras, Roth and traditional if i inputting this from my W2. Isn’t this a duplication?
A 401(K), 403(B), and certain other employee sponsored plans that might be on your W-2, are completely different accounts from IRAs. IRAs are controlled by different sections of the tax code and have some very different rules for contributions and withdrawals, and should never be confused with each other.
*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*