topic IRA Contributions and Conversions in Retirement tax questions

IRA Contributions and Conversions

appleby2 — Sun, 13 Apr 2025 02:25:42 GMT

Why is my IRA contributions not showing up on my 1040 form even though I entered 7,000 for my spouse and I in the IRA deductions?

Re: IRA Contributions and Conversions

DanaB27 — Sun, 13 Apr 2025 13:30:19 GMT

To confirm, you do not have an entry on line 20 of Schedule 1?

If you have no entry and entered the Traditional IRA contributions in the IRA contribution interview under Deduction & Credits then this means that the contributions were nondeductible. You should have seen a message during the IRA contribution interview that your contributions are nondeductible.

Your Traditional IRA deduction may be limited if you or your spouse is covered by a retirement plan at work and your income exceeds certain levels. Please see IRA deduction limits for details.

Re: IRA Contributions and Conversions

appleby2 — Sun, 13 Apr 2025 17:33:41 GMT

Thank you for the response, and I know it's not deductible, but should line 4a on the 1040 state that the amount should be 0. There is nothing listed there. I invested 7,000 into a traditional IRA and converted it to a ROTH immediately in March of 2025.

Re: IRA Contributions and Conversions

KeshaH — Sun, 13 Apr 2025 17:38:15 GMT

Line 4 of the 1040 is for distributions (money taken out of your account), not contributions. Contributions would be listed on Schedule 1, if deductible, or Form 8606.