SIMPLE IRA in a S corp

[WITAXLADY]

so they have a retirement plan - Simple IRA - some employees contribute and get match, 1 of s corp owners puts in almost the max $12,350 - is that his money he put in - is that supposed to show on his W-2 - as regs say just mark x retirement plan and then part deductible by the company is only the 3%...

The $12,350 is not anywhere shown???

thx

and of course coming tomorrow to pu and file

[jasdlm]

Goes in Box 12 w/ code S - it's an employee deferral.  Maybe W2 is not done correctly?   It could be that I'm not quite understanding the question.

[Lee B]

You have condensed the details so far that it's not clear what your question is?

[WITAXLADY]

ok - googled - IRA site for Simple says x box 13 and put on line 28 - but ATX says not self -employed - cannot do..

So go to irs.gov and wages -

Guess what - treat all of it like the 401.. simple - S and box 12 - even late as in Jan or up to time of filing, I guess,  - amend the W-2. w-3..

and it all works fine..

so thank you!!

 

I do not like to answer the posts as I am horrible at (writing) explanations! I say if I could explain, I would have been a teacher!!