taxguy057 Posted March 24, 2010 Report Share Posted March 24, 2010 Got a client that wants to make a contribution to their Traditional IRA before Apr 15th for 2009. I found the worksheet and filled out info and Form 8606 with the estimated amount he wants to put in but no changes occurred on 1040. I must be doing something wrong please help... TG Quote Link to comment Share on other sites More sharing options...
Margaret CPA in OH Posted March 24, 2010 Report Share Posted March 24, 2010 I assume that you are talking about the IRA/Roth worksheet. Does it show the maximum amount that can be contributed on the Contributions tab? Form 8606 is only for Nondeductible Contributions (Part I), Conversions (Part II) and Distributions (Part III). If the contribution was nondeductible, there would be no change on the 1040. If deductible, the worksheet will show the amount allowed. Quote Link to comment Share on other sites More sharing options...
TAXBILLY Posted March 24, 2010 Report Share Posted March 24, 2010 Why are you filling out a 8606? taxbilly Quote Link to comment Share on other sites More sharing options...
taxguy057 Posted March 24, 2010 Author Report Share Posted March 24, 2010 well it referenced 8606 in the worksheet so i pulled it to look at it. Now he also contributed to his Roth IRA too which i know is not deductible. Quote Link to comment Share on other sites More sharing options...
kcjenkins Posted March 24, 2010 Report Share Posted March 24, 2010 You do not need the 8606 if he's making a normal deductible contribution to his IRA. Any part that goes to the ROTH will not show on the return, because it's not deductible. But as long as he does not exceed the limits [both contributions count against the limits], the regular IRA portion will show on the front page of the 1040. Quote Link to comment Share on other sites More sharing options...
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