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rocketman8
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Does Alabama Tax Code allow for a Simple IRA Tax Deduction?

 
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‎February 18, 2021 10:45 AM
last updated ‎February 18, 2021 10:45 AM
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JohnB5677
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Does Alabama Tax Code allow for a Simple IRA Tax Deduction?

No, not as a deduction.  Employee contributions to a SIMPLE IRA plan are not deductible by participants from their income on their Form 1040.

 

The SIMPLE IRA contributions are not included in the “Wages, tips, other compensation” box of Form W-2 and are not reported as income on your Form 1040.

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‎February 18, 2021 11:16 AM
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