retirement plan

Forum|Forum|3 years ago
March 30, 2023
1 reply
4 views

hello. I have a question about retirement plan check on the W-2 form. Its only $66 that was rolled over to saving account and this employer retired, so I dont even have this account anymore. I usually open my own CD account and get write off. So, since retirement box is checked, it would not give me that choice anymore. Is there anything could be done with it? Thank you

MaryK4

Level 15

Can you clarify if you received a 1099-R? Please clarify what was on the W2 form.

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agruzannaAuthor

Level 2

No 1099 form. its just W-2 form and retirement was checked with X

MaryK4

Level 15

This simply indicates that you had a retirement plan available. Traditional IRA contributions may be tax-deductible, but the deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels. See IRA deduction limits.

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