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February 11, 2024
Question

Simple Roth IRA

  • February 11, 2024
  • 1 reply
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Working through Federal Turbotax now, got to "How much of the $x in retirement contributions from your W-2 (box 12) went to a SIMPLE Roth IRA plan?". I think there is no such thing as a SIMPLE Roth? I have a SIMPLE IRA, and that is where Box 12 is all going into, but it is not a Roth IRA - trying to decide if I should enter $0 or the full amount from box 12. Thanks!

    1 reply

    PatriciaV
    February 11, 2024

    If your SIMPLE IRA was established before 2023, you have a SIMPLE Traditional IRA, and your answer to this question would be zero.

     

    See IRS SECURE Act 2.0 Roth SIMPLE and Roth SEP IRAs

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