Please Help me..
I was trying to fill-up Form 8606...and I was stuck by LINES 1, 2
What is the worksheet they are talking about found in Form 1040 (Publication 17)?
What is the worksheet they are talking about in Publication 590?
I was trying to fill-up Form 8606...and I was stuck by LINES 1, 2
What is the worksheet they are talking about found in Form 1040 (Publication 17)?
What is the worksheet they are talking about in Publication 590?
Answer :
What is the worksheet they are talking about found in Form
1040 (Publication 17)?===============For example, if you need to use the IRA
Deduction Worksheet in the Form 1040 or 1040A instructions, you need to
subtract line 12 (line 10 for Form 1040A) of the worksheet (or the amount you
chose to deduct on Form 1040 or Form 1040A, line 17, if less) from the smaller
of line 10 or line 11 (line 8 or line 9 for Form 1040A) of the worksheet. Enter
the result on line 1 of Form 8606. You cannot deduct the amount included on
line 1. For IRA deduction W/S visit the website here; http://apps.irs.gov/app/vita/content...heet_1040i.pdf
What is the worksheet they are talking about in Publication 590.======= You need to use Pub 590 W/S for figuring amount of net income due to IRA contribution and the total amount to be recharacterized (Worksheet 1-3), Worksheet 1-3. Determining the Amount of Net Income Due To an IRA Contribution and Total Amount To Be Recharacterized Figuring modified AGI (Worksheet 1-1), Both contributions for 2012 and distributions in 2012.Roth IRAs.For example,.for MAGI for Roth IRA Purposes, yo need to fill in Worksheet 2-1 Publication 590 (2012), Individual Retirement Arrangements (IRAs) Publication 590 (2012), Individual Retirement Arrangements (IRAs)
Basically, IRS Form 8606 is used to report nondeductible contributions to traditional IRA, and to report any withdrawals from SEP, SIMPLE or traditional IRA…Read more…
What is the worksheet they are talking about in Publication 590.======= You need to use Pub 590 W/S for figuring amount of net income due to IRA contribution and the total amount to be recharacterized (Worksheet 1-3), Worksheet 1-3. Determining the Amount of Net Income Due To an IRA Contribution and Total Amount To Be Recharacterized Figuring modified AGI (Worksheet 1-1), Both contributions for 2012 and distributions in 2012.Roth IRAs.For example,.for MAGI for Roth IRA Purposes, yo need to fill in Worksheet 2-1 Publication 590 (2012), Individual Retirement Arrangements (IRAs) Publication 590 (2012), Individual Retirement Arrangements (IRAs)
Basically, IRS Form 8606 is used to report nondeductible contributions to traditional IRA, and to report any withdrawals from SEP, SIMPLE or traditional IRA…Read more…
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