AlexanderS08
Expert Alumni

Deductions & credits

The amount on C1 should be carried from Line C1 to Line C6, in order to calculate C7. The important part is that C7 carries to Page 2 of Form 140, Line 44.

 

Is the amount in C7 carrying over to Page 2, Line 44 of the Form 140? If so, you don't need to worry about anything. Also, remember that the deduction is only for 25% of what you contributed. For example, if you contributed $1,000 cash then you could increase your standard deduction only by $250.

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