Instructions For Form 1040 - U.s. Individual Income Tax Return - 2017 Page 26
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107 2017 Form 1040—Lines 15b Through 16b
on line 15a. If the total amount distrib-
The amount of an HFD reduces
come tax or other deductions were with-
!
uted is a QCD, enter -0- on line 15b. If
the amount you can contribute
held. This amount should be shown in
only part of the distribution is a QCD,
to your HSA for the year. If you
box 1 of Form 1099-R. Pension and an-
CAUTION
enter the part that is not a QCD on
fail to maintain eligibility for an HSA
nuity payments include distributions
line 15b unless Exception 2 applies to
for the 12 months following the month of
from 401(k), 403(b), and governmental
that part. Enter “QCD” next to line 15b.
the HFD, you may have to report the
457(b) plans. Rollovers and lump-sum
HFD as income and pay an additional
distributions are explained later. Don’t
A QCD is a distribution made direct-
tax. See Form 8889, Part III.
include the following payments on lines
ly by the trustee of your IRA (other than
16a and 16b. Instead, report them on
an ongoing SEP or SIMPLE IRA) to an
More than one exception applies. If
line 7.
organization eligible to receive tax-de-
more than one exception applies, include
Disability pensions received before
ductible contributions (with certain ex-
a statement showing the amount of each
you reach the minimum retirement age
ceptions). You must have been at least
exception, instead of making an entry
set by your employer.
age 70
when the distribution was
1 2
next to line 15b. For example: “Line 15b
Corrective distributions (including
made.
– $1,000 Rollover and $500 HFD.” But
any earnings) of excess elective defer-
Generally, your total QCDs for the
you do not need to attach a statement if
rals or other excess contributions to re-
year can't be more than $100,000. (On a
only Exception 2 and one other excep-
tirement plans. The plan must advise
joint return, your spouse also can have a
tion apply.
you of the year(s) the distributions are
QCD of up to $100,000.) The amount of
More than one distribution. If you (or
includible in income.
the QCD is limited to the amount that
your spouse if filing jointly) received
Attach Form(s) 1099-R to Form
would otherwise be included in your in-
more than one distribution, figure the
1040 if any federal income tax
come. If your IRA includes nondeducti-
TIP
taxable amount of each distribution and
was withheld.
ble contributions, the distribution is first
enter the total of the taxable amounts on
considered to be paid out of otherwise
line 15b. Enter the total amount of those
taxable income. See Pub. 590-A for de-
Fully Taxable Pensions and
distributions on line 15a.
tails.
Annuities
You may have to pay an addi-
You can't claim a charitable
!
tional tax if (a) you received an
Your payments are fully taxable if (a)
!
contribution deduction for any
early distribution from your
you didn't contribute to the cost (see
CAUTION
QCD not included in your in-
CAUTION
IRA and the total wasn't rolled over, or
Cost, later) of your pension or annuity,
come.
(b) you were born before July 1, 1946,
or (b) you got your entire cost back tax
and received less than the minimum re-
free before 2017. But see Insurance Pre-
Exception 4. If all or part of the distri-
quired distribution from your tradition-
miums for Retired Public Safety Offi-
bution is a health savings account (HSA)
al, SEP, and SIMPLE IRAs. See the in-
cers, later. If your pension or annuity is
funding distribution (HFD), enter the to-
structions for line 59 for details.
fully taxable, enter the total pension or
tal distribution on line 15a. If the total
annuity
payments
(from
Form(s)
amount distributed is an HFD and you
More information. For more informa-
1099-R, box 1) on line 16b; don’t make
elect to exclude it from income, enter -0-
tion about IRAs, see Pub. 590-A and
an entry on line 16a.
on line 15b. If only part of the distribu-
Pub. 590-B.
tion is an HFD and you elect to exclude
Fully taxable pensions and annuities
that part from income, enter the part that
Lines 16a and 16b
also include military retirement pay
isn't an HFD on line 15b unless Excep-
shown on Form 1099-R. For details on
tion 2 applies to that part. Enter “HFD”
Pensions and Annuities
military disability pensions, see Pub.
next to line 15b.
525.
If
you
received
a
Form
RRB-1099-R, see Pub. 575 to find out
Special rules may apply if you
An HFD is a distribution made di-
how to report your benefits.
received a distribution from a
rectly by the trustee of your IRA (other
TIP
profit-sharing plan or retire-
than an ongoing SEP or SIMPLE IRA)
Partially Taxable Pensions and
ment plan and your main home was in
to your HSA. If eligible, you generally
Annuities
one of the Presidentially declared disas-
can elect to exclude an HFD from your
ter areas eligible for these special rules
income once in your lifetime. You can't
Enter the total pension or annuity pay-
on the specified date. Special rules also
exclude more than the limit on HSA
ments (from Form 1099-R, box 1) on
may apply if you received a distribution
contributions or more than the amount
line 16a. If your Form 1099-R doesn't
on certain dates to buy or construct a
that would otherwise be included in your
show the taxable amount, you must use
main home in one of the Presidentially
income. If your IRA includes nondeduc-
the General Rule explained in Pub. 939
declared disaster areas eligible for these
tible contributions, the HFD is first con-
to figure the taxable part to enter on
special rules, but that home wasn’t
sidered to be paid out of otherwise taxa-
line 16b. But if your annuity starting
bought or constructed because of the
ble income. See Pub. 969 for details.
date (defined later) was after July 1,
disaster. See Pub. 976 for details.
1986, see Simplified Method, later, to
find out if you must use that method to
You should receive a Form 1099-R
figure the taxable part.
showing the total amount of your pen-
sion and annuity payments before in-
-26-
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