Instructions For Form 1040 - U.s. Individual Income Tax Return - 2016 Page 34
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107 2017 Form 1040—Line 32
come includes any nontaxable combat
6. If you received income from a
Were You Covered by a
pay you received. If you were self-em-
nonqualified
deferred
compensation
Retirement Plan?
ployed, earned income is generally your
plan or nongovernmental section 457
If you were covered by a retirement plan
net earnings from self-employment if
plan that is included in box 1 of your
(qualified pension, profit-sharing (in-
your personal services were a material
Form W-2, or in box 7 of Form
cluding 401(k)), annuity, SEP, SIMPLE,
income-producing factor. For more de-
1099-MISC, don’t include that income
etc.) at work or through self-employ-
tails, see Pub. 590-A. A statement
on line 8 of the worksheet. The income
ment, your IRA deduction may be re-
should be sent to you by May 31, 2018,
should be shown in (a) box 11 of your
duced or eliminated. But you can still
that shows all contributions to your tra-
Form W-2, (b) box 12 of your Form
make contributions to an IRA even if
ditional IRA for 2017.
W-2 with code Z, or (c) box 15b of
you can't deduct them. In any case, the
Form 1099-MISC. If it isn't, contact
Use the IRA Deduction Worksheet to
income earned on your IRA contribu-
your employer or the payer for the
figure the amount, if any, of your IRA
tions isn't taxed until it is paid to you.
amount of the income.
deduction. But read the following
The “Retirement plan” box in box 13
11-item list before you fill in the work-
7. You must file a joint return to de-
of your Form W-2 should be checked if
sheet.
duct contributions to your spouse's IRA.
you were covered by a plan at work
Enter the total IRA deduction for you
1. If you were age 70
or older at
1 2
even if you weren’t vested in the plan.
and your spouse on line 32.
the end of 2017, you can't deduct any
You also are covered by a plan if you
contributions made to your traditional
8. Don’t include rollover contribu-
were self-employed and had a SEP,
IRA for 2017 or treat them as nondeduc-
tions in figuring your deduction. Instead,
SIMPLE, or qualified retirement plan.
tible contributions.
see the instructions for lines 15a and
If you were covered by a retirement
15b.
2. You can't deduct contributions to
plan and you file Form 2555, 2555-EZ,
a Roth IRA. But you may be able to take
9. Don’t include trustees' fees that
or 8815, or you exclude employer-provi-
the retirement savings contributions
were billed separately and paid by you
ded adoption benefits, see Pub. 590-A to
credit (saver's credit). See the instruc-
for your IRA. These fees can be deduc-
figure the amount, if any, of your IRA
tions for line 51.
ted only as an itemized deduction on
deduction.
Schedule A.
3. If you are filing a joint return and
Married persons filing separately. If
you or your spouse made contributions
10. Don’t include any repayments of
you weren’t covered by a retirement
to both a traditional IRA and a Roth IRA
qualified reservist distributions. You
plan but your spouse was, you are con-
for 2017, don’t use the IRA Deduction
can't deduct them. For information on
sidered covered by a plan unless you
Worksheet in these instructions. Instead,
how to report these repayments, see
lived apart from your spouse for all of
see Pub. 590-A to figure the amount, if
Qualified reservist repayments in Pub.
2017.
any, of your IRA deduction.
590-A.
You may be able to take the re-
4. You can't deduct elective defer-
11. If the total of your IRA deduction
tirement savings contributions
TIP
rals to a 401(k) plan, 403(b) plan, sec-
on line 32 plus any nondeductible con-
credit. See the line 51 instruc-
tion 457 plan, SIMPLE plan, or the fed-
tribution to your traditional IRAs shown
tions.
eral Thrift Savings Plan. These amounts
on Form 8606 is less than your total tra-
aren't included as income in box 1 of
ditional IRA contributions for 2017, see
your Form W-2. But you may be able to
Pub. 590-A for special rules.
take the retirement savings contributions
By April 1 of the year after the
credit. See the instructions for line 51.
year in which you turn age 70
,
TIP
1 2
5. If you made contributions to your
you must start taking minimum
IRA in 2017 that you deducted for 2016,
required distributions from your tradi-
don’t include them in the worksheet.
tional IRA. If you don’t, you may have to
pay a 50% additional tax on the amount
that should have been distributed. For
details, including how to figure the mini-
mum required distribution, see Pub.
590-B.
-34-
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