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I have a client that s is a teacher and SS line is 0, in box…

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I have a client...

I have a client that s is a teacher and SS line is 0, in box 14 ret. is listed. Is this put on the Tax as an IRA...I would use it as a Teachers retirement

Accountant's Assistant: The Accountant will know how to help. Please tell me more, so we can help you best.

A teacher with W-2 Federal amount 10000, SS line 0, medicare line 10000 box 14 Retire 7000. Does that qualify as an IRA

Accountant's Assistant: Is there anything else important you think the Accountant should know?

I feel that the retirement goes into a teachers retirement not an IRA

Submitted: 4 months ago.Category: Tax
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3/7/2018
Tax Professional: Lev, Tax Advisor replied 4 months ago
Lev
Lev, Tax Advisor
Category: Tax
Satisfied Customers: 33,140
Experience: Taxes, Immigration, Labor Relations
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That amount in box 1 W2 form is treated as earned income - and the person qualified for IRA contribution - if that was your question.

But the amount in box 14 indicated contribution into State Teachers' Retirement Fund.

That means the taxpayer is covered by the retirement plan at work.

Let me know if any clarification needed.

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Tax Professional: Lev, Tax Advisor replied 4 months ago

I appreciate if you take a moment to rate the answer.

Experts are ONLY credited when answers are rated positively.

If you still have any doubts, need clarification - please be sure to ask.

I am here to help you with all Social Security / Tax related issues.

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