Deducting IRA contributions through employer-sponsored SIMPLE IRA
SequoiaSempervirens
Member Posts: 4 Newcomer
I have an employer-sponsored SIMPLE IRA (3% match) with both of my W-2 employers (reported in Box 12a).
Do I answer "Yes" to the question "Did [name] make any traditional or Roth IRA contributions during 2024?" and then enter the combined totals from the two W-2s on the next screen?
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No, because the amount shown in Box 12a was not included in your Box 1 income.
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Thanks, I had a feeling the answer was no, but I got confused because I saw that I had a retirement savings credit from last year. But I think I figured out the reason why I don't get one this year is because I made more money last year that was taxable. (I had to scrutinize the worksheets to figure this all out!)
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