Form 1040 Instructions - 2015 Page 34
ADVERTISEMENT
1 
2 
3 
4 
5 
6 
7 
8 
9 
10 
11 
12 
13 
14 
15 
16 
17 
18 
19 
20 
21 
22 
23 
24 
25 
26 
27 
28 
29 
30 
31 
32 
33 
34 
35 
36 
37 
38 
39 
40 
41 
42 
43 
44 
45 
46 
47 
48 
49 
50 
51 
52 
53 
54 
55 
56 
57 
58 
59 
60 
61 
62 
63 
64 
65 
66 
67 
68 
69 
70 
71 
72 
73 
74 
75 
76 
77 
78 
79 
80 
81 
82 
83 
84 
85 
86 
87 
88 
89 
90 
91 
92 
93 
94 
95 
96 
97 
98 
99 
100 
101 
102 
103 
104 
105 2015 Form 1040—Line 32
take the retirement savings contributions
10. Do not include any repayments of
duced or eliminated. But you can still
credit. See the instructions for line 51.
qualified reservist distributions. You
make contributions to an IRA even if
can't deduct them. For information on
you can't deduct them. In any case, the
5. If you made contributions to your
how to report these repayments, see
income earned on your IRA contribu-
IRA in 2015 that you deducted for 2014,
Qualified reservist repayments in Pub.
tions isn't taxed until it is paid to you.
do not include them in the worksheet.
590-A.
The “Retirement plan” box in box 13
6. If you received income from a
11. If the total of your IRA deduction
of your Form W-2 should be checked if
nonqualified
deferred
compensation
on line 32 plus any nondeductible con-
you were covered by a plan at work
plan or nongovernmental section 457
tribution to your traditional IRAs shown
even if you were not vested in the plan.
plan that is included in box 1 of your
on Form 8606 is less than your total tra-
You are also covered by a plan if you
Form W-2, or in box 7 of Form
ditional IRA contributions for 2015, see
were self-employed and had a SEP,
1099-MISC, do not include that income
Pub. 590-A for special rules.
SIMPLE, or qualified retirement plan.
on line 8 of the worksheet. The income
should be shown in (a) box 11 of your
If you were covered by a retirement
By April 1 of the year after the
Form W-2, (b) box 12 of your Form
plan and you file Form 2555, 2555-EZ,
year in which you turn age
TIP
W-2 with code Z, or (c) box 15b of
or 8815, or you exclude employer-provi-
70
, you must start taking min-
1
2
Form 1099-MISC. If it isn't, contact
ded adoption benefits, see Pub. 590-A to
imum required distributions from your
your employer or the payer for the
figure the amount, if any, of your IRA
traditional IRA. If you do not, you may
amount of the income.
deduction.
have to pay a 50% additional tax on the
7. You must file a joint return to de-
amount that should have been distrib-
Married persons filing separately. If
duct contributions to your spouse's IRA.
uted. For details, including how to fig-
you were not covered by a retirement
Enter the total IRA deduction for you
ure the minimum required distribution,
plan but your spouse was, you are con-
and your spouse on line 32.
see Pub. 590-B.
sidered covered by a plan unless you
lived apart from your spouse for all of
8. Do not include qualified rollover
2015.
Were You Covered by a
contributions in figuring your deduction.
Instead, see the instructions for lines 15a
Retirement Plan?
You may be able to take the re-
and 15b.
tirement savings contributions
TIP
If you were covered by a retirement plan
9. Do not include trustees' fees that
credit. See the line 51 instruc-
(qualified pension, profit-sharing (in-
were billed separately and paid by you
tions.
cluding 401(k)), annuity, SEP, SIMPLE,
for your IRA. These fees can be deduc-
etc.) at work or through self-employ-
ted only as an itemized deduction on
ment, your IRA deduction may be re-
Schedule A.
-34-
Need more information or forms? Visit IRS.gov.
ADVERTISEMENT
0 votes
Related Articles
Related forms
Related Categories
Parent category: Financial