topic edit: if designated for 2016 in Retirement tax questions

How do i file an ira contribution from my ira to my husbands ira on turbotax

dfarmer53 — Tue, 04 Jun 2019 21:18:14 GMT

Explain what you mean. You cannot transfer funds from on...

macuser_22 — Tue, 04 Jun 2019 21:18:16 GMT

Explain what you mean. You cannot transfer funds from one persons IRA to another persons IRA that is not permitted.

i rolled $6500 from my trad ira to my husbands trad ira t...

dfarmer53 — Tue, 04 Jun 2019 21:18:17 GMT

i rolled $6500 from my trad ira to my husbands trad ira this month, before the april deadline

the merrill lynch rep told me i had until april to contri...

dfarmer53 — Tue, 04 Jun 2019 21:18:18 GMT

the merrill lynch rep told me i had until april to contribute the $6500 from my trad ira to my husbands trad ira. I am already retired but my husband did not retire until august, so he had earned income

You have a deduction this year 2016 for your contribution...

fanfare — Tue, 04 Jun 2019 21:18:20 GMT

You have a deduction this year 2016 for your contribution if designated for 2016. You will have a taxable distribution next year 2017 for the same amount. This is not a rollover.

edit: if designated for 2016

fanfare — Tue, 04 Jun 2019 21:18:21 GMT

edit: if designated for 2016

Correct - That is not a rollover, simply a 2017 distribut...

macuser_22 — Tue, 04 Jun 2019 21:18:22 GMT

Correct - That is not a rollover, simply a 2017 distribution from your IRA which will be reported on your 2017 tax return next year and a new contribution to your spouses IRA made before Apr. 18, for the 2016 tax year. That is fine as long as your spouse had at least $6,500 of earned compensation in 2016.

Enter IRA contributions here:
Federal Taxes,
Deductions & Credits,
I’ll choose what I work on (if that screen comes up),
Retirement & Investments,
Traditional & Roth IRA contribution.

OR Use the "Tools" menu (if online version under My Account) and then "Search Topics" for "ira contributions" which will take you to the same place.