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Can multiple IRA's be lilted in different lines on Form 1040?

I have two IRA's  One I downloaded from Fidelity and it is listed on my 1040 Form on line15b.  The other is from Thrift Savings Plan.  I entered it using the 1099R provided.  It is included on 16a/b, versus line15b.   Is this correct?  BTW, the IRA/SEP/SIMPLE box is not checked on the TSP 1099R.

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Accepted Solutions
DanO
New Member

Can multiple IRA's be lilted in different lines on Form 1040?

Yes, that is correct, the TSP is not considered an IRA. It is set up in the manner of a 401(k) where contributions are taken from your paycheck.

Since it is not considered an IRA then not having the IRA/SEP/SIMPLE box checked is correct for the TSP.

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1 Reply
DanO
New Member

Can multiple IRA's be lilted in different lines on Form 1040?

Yes, that is correct, the TSP is not considered an IRA. It is set up in the manner of a 401(k) where contributions are taken from your paycheck.

Since it is not considered an IRA then not having the IRA/SEP/SIMPLE box checked is correct for the TSP.

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