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Retirement tax questions
"Why did the IRS break out line 2a (1040) on to a separate line?"
At least two reasons: The amount on line 2a is considered to be income, albeit nontaxable income, so it needs to be accounted for on a tax return just like any other nontaxable income. The amount on line 2a is also used as a modification to AGI for ACA purposes.
March 28, 2023
5:29 AM