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My questions on lines 4a and 4b of 1040-SR are related to Traditional IRA accounts.
I think Pensions e.g. 401(k) is on line 5a “Pensions and annuities” with my 5a box being blank and there is dollar amount in b “Taxable amount”. I am over 65 now so I use 1040-SR.
I received two 1099-R’s from two Traditional IRA accounts. On both 1099-R’s, Box 2b “Taxable amount is not determined” is checked with ‘x’, Box 7 “Distribution code(s)” is 7, and “IRA/SEP/SIMPLE” is checked with “x’.
I did not make any QCDs. But each year I make nondeductible contributions to my IRA and reported them on Form 8606, Thank you so much, CHAMP RJS, you have hit the nail on the head!
June 3, 2024
10:55 PM