dmertz
Level 15

Retirement tax questions

It's not reported as a deduction but the amount rolled over to a traditional IRA is instead reported as an item of negative miscellaneous income on Schedule 1 line 21 (Form 1040 line 21 if you are reporting this on an amended tax return for 2017 or earlier) with the description "airline payment."

In TurboTax, go to Wages & Income -> Less Common Income -> Other reportable income, answer Yes to Any Other Taxable Income, then enter the description "Airline payment" and enter as a negative number the amount deposited in the traditional IRA.

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