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    • Deducting IRA contributions through employer-sponsored SIMPLE IRA

    SequoiaSempervirens
    SequoiaSempervirens Member Posts: 4 Newcomer
    edited March 28 in Credits/Deductions

    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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    Best Answers

    • DaveT
      DaveT Member Posts: 62 Level 5
      Answer ✓

      No, because the amount shown in Box 12a was not included in your Box 1 income.

    • SequoiaSempervirens
      SequoiaSempervirens Member Posts: 4 Newcomer
      Answer ✓

      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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