You asked about IRA's. As a teacher I do have a 403 B (which is like a 401K in the business world) and I have a Roth IRA. Are either of these tax deductible?

mschren1 · ‎June 6, 2019

MinhT · ‎June 6, 2019

Your contributions to your 403(B) are made from pre-tax dollars. They have already been excluded from taxation and deducted from your taxable wages reported in box 1 of your form W-2. You do not need to report them again on your tax return.

Contributions to your Roth IRA are not tax deductible. But you enter them in TurboTax so that TurboTax can keep track of them and determine if you are eligible for these contributions based on the level of your income.

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View solution in original post

MinhT · ‎June 6, 2019

Your contributions to your 403(B) are made from pre-tax dollars. They have already been excluded from taxation and deducted from your taxable wages reported in box 1 of your form W-2. You do not need to report them again on your tax return.

Contributions to your Roth IRA are not tax deductible. But you enter them in TurboTax so that TurboTax can keep track of them and determine if you are eligible for these contributions based on the level of your income.

**Say "Thanks" by clicking the thumb icon in a post
**Mark the post that answers your question by clicking on "Mark as Best Answer"

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You asked about IRA's. As a teacher I do have a 403 B (which is like a 401K in the business world) and I have a Roth IRA. Are either of these tax deductible?