Instructions For Form 1040 - Draft Worksheet(S) And Tables - 2008 Page 7
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42IRA Deduction Worksheet—Line 32
Keep for Your Records
If you were age 70
1
⁄
or older at the end of 2008, you cannot deduct any contributions made to your traditional IRA or treat them
2
as nondeductible contributions. Do not complete this worksheet for anyone age 70
1
⁄
or older at the end of 2008. If you are
2
married filing jointly and only one spouse was under age 70
1
⁄
at the end of 2008, complete this worksheet only for that spouse.
2
Before you begin:
Be sure you have read the list on page 27. You may not be eligible to use this worksheet.
Figure any amount on Form 1040, line 34, and any write-in adjustments to be entered on the dotted line next to line
36 (see the instructions for line 36 on page 31).
If you are married filing separately and you lived apart from your spouse for all of 2008, enter “D” on the dotted
line next to Form 1040, line 32. If you do not, you may get a math error notice from the IRS.
Your IRA
Spouse’s IRA
1a.
Were you covered by a retirement plan (see above)? . . . . . . . . . . . . . . . . . . . . . . .
1a.
Yes
No
b.
If married filing jointly, was your spouse covered by a retirement plan? . . . . . . . . . . . . . . . . . . . . . . . . . . . .
1b.
Yes
No
Next. If you checked “No” on line 1a (and “No” on line 1b if married filing jointly),
skip lines 2 through 6, enter the applicable amount below on line 7a (and line 7b if
applicable), and go to line 8.
•
$5,000, if under age 50 at the end of 2008.
•
$6,000, if age 50 or older but under age 70
1
⁄
at the end of 2008.
2
Otherwise, go to line 2.
2.
Enter the amount shown below that applies to you.
}
•
Single, head of household, or married filing separately and you lived apart
from your spouse for all of 2008, enter $63,000
•
Qualifying widow(er), enter $105,000
2a.
2b.
•
Married filing jointly, enter $105,000 in both columns. But if you checked
“No” on either line 1a or 1b, enter $169,000 for the person who was not
covered by a plan
•
Married filing separately and you lived with your spouse at any time in 2008,
enter $10,000
3.
Enter the amount from Form 1040, line 22 . . . . . . . . . . .
3.
4.
Enter the total of the amounts from Form 1040, lines 23
through 31a, line 34, and any write-in adjustments you
entered on the dotted line next to line 36 . . . . . . . . . . . . .
4.
5.
Subtract line 4 from line 3. If married filing jointly, enter the result in both columns . .
5a.
5b.
6.
Is the amount on line 5 less than the amount on line 2?
None of your IRA contributions are deductible. For details on
No.
STOP
nondeductible IRA contributions, see Form 8606.
Subtract line 5 from line 2 in each column. Follow the instruction below
Yes.
that applies to you.
•
If single, head of household, or married filing separately, and the
}
result is $10,000 or more, enter the applicable amount below on
line 7 for that column and go to line 8.
i. $5,000, if under age 50 at the end of 2008.
ii. $6,000, if age 50 or older but under age 70
⁄
at the end
1
2
of 2008.
Otherwise, go to line 7.
6a.
6b.
•
If married filing jointly or qualifying widow(er), and the result is
$20,000 or more ($10,000 or more in the column for the IRA of
a person who was not covered by a retirement plan), enter the
applicable amount below on line 7 for that column and go to
line 8.
i. $5,000, if under age 50 at the end of 2008.
ii. $6,000 if age 50 or older but under age 70
1
⁄
at the end
2
of 2008.
Otherwise, go to line 7.
- 6 -
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