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Level 1

retroactive SIMPLE IRA contribution

I am the owner and sole employee of an S-chapter corporation. I have a SIMPLE IRA set up that I haven’t contributed to for some years, but I would like to resume contributions starting retroactively with last year. I prefer to make the contribution from income already received to avoid additional company payroll taxes, but if I make the contribution from my own account it won’t show correctly on the W-2. Is it important for it to show on the W2 so that it shows correctly on my 1040? Is there a way to adjust my accounting to show this contribution or a simple workaround?

3 Comments 3

retroactive SIMPLE IRA contribution

Hey there, @Goodnightocean. I'll share some insights on how QuickBooks track your Simple IRA.


Also, let me guide you on what's the best way to pay your payroll liabilities for SIMPLE IRA.


QuickBooks Desktop calculates the deduction for your IRA based on its type and rate. Thus, payroll liabilities for SIMPLE IRA need to be paid directly to your agency.


On the other hand, you can check with the IRS if it is essential to show the Simple IRA on the W2 to present it on your 1040 correctly.


To give you insights about the Simple IRA set up together with the taxes that can be paid in the system, you can always scan through these links:



Know that you can always get back to me here in the Community if you have any other questions about this topic. I'll be around to lend a helping hand. Have a nice day!

Level 1

retroactive SIMPLE IRA contribution

I have the same issue. Client wanted to wait to fund at the end of the year, so I need to make sure the w2 is correct. How can I do this in one check and not make the income go up?

QuickBooks Team

retroactive SIMPLE IRA contribution

Thanks for joining this thread, @Aspencer14.


I see that you posted the same question that my colleague answered. You can click this link to route you to the answer:


For additional QuickBooks Payroll-related concerns, don't hesitate to reply to this post. Keep safe always.

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