Individual retirement account FAQs (1040)

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The following includes answers to common questions about processing individual retirement accounts for 1040 returns.

How is compensation for calculating IRA contributions determined for a married filing joint client?

Is the calculation the same when using the calculated traditional IRA deduction option versus entering a traditional IRA contribution amount?

What is the overall contribution limit for traditional and Roth IRAs?

How do I enter traditional IRA contributions?

How do I enter Roth IRA contributions?

Why is the amount of Roth IRA contribution different from the amount used in the return?

I have a client who received a distribution from a traditional IRA and also made a nondeductible 2022 contribution to a traditional IRA in 2023. How do I enter this in order to have Form 8606 calculate correctly?

How do I enter a nondeductible contribution to a traditional IRA?

I have a client who received a distribution from an IRA that was rolled over into another IRA. How do I report this?

I have multiple 1099-R distributions from IRAs in a client. Where can I see a summary of all distributions?

What are the print conditions for Form 8606?

Why are lines 4 through 13 of Form 8606 not being calculated?

What is the Taxable IRA Distributions with IRA Contributions worksheet used for?

Form 1099-R, box 7

What are the general reporting requirements for Roth IRA distributions, conversions, or recharacterizations?

Why aren’t the IRA distributions from Form 1099-R reducing the basis on Form 8606 - Nondeductible IRAs?

Why are 1099-R distributions that are coded P not on Form 1040?

Why is Screen Keogh grayed out when the Schedule K-1 is from an S Corporation?

What should I enter in the Conversion from traditional IRAs to Roth IRAs field in Screen IRA?

How do I enter an IRA recharacterization?

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