1355540
In regard to IRA contributions, all of our contributions come from our paychecks. If we list the amount on our W-2 form (D box), is that adequate documentation?
Thanks.
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yes. you will not see an IRA deduction on your return. your wages would have already been reduced by the contributions.
Yes, if your only IRA contributions are from your pay they will be listed on your W-2. Make sure you complete the W-2 information correctly with with information from box 12.
IRA Contributions do not come out of your paychecks. That was probably to a 401K Plan. That comes out of your pay pretax and has already been deducted from the wages in box 1 and you can't deduct them again. Do not enter them under Deductions & Credits.
IRA Contributions are made outside of work with your own money and should be entered under Deductions. They may or may not be deductible.
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