Page 97 - Individual Forms & Instructions Guide

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reported on Schedule 1, line 2a. If you Form W-2, or in box 1 of Form you may have to pay a 50% additional
were a member of the U.S. Armed 1099-NEC, don’t include that income on tax on the amount that should have been
Forces, earned income includes any non- line 8 of the worksheet. The income distributed. For details, including how
taxable combat pay you received. If you should be shown in (a) box 11 of your to figure the minimum required distribu-
were self-employed, earned income is Form W-2, (b) box 12 of your Form tion, see Pub. 590-B.
generally your net earnings from W-2 with code Z, or (c) box 15 of Form
self-employment if your personal serv- 1099-MISC. If it isn't, contact your em- Were You Covered by a Retirement
ices were a material income-producing ployer or the payer for the amount of the Plan?
factor. For more details, see Pub. 590-A. income. If you were covered by a retirement plan
A statement should be sent to you by 6. You must file a joint return to de- (qualified pension, profit-sharing (in-
May 31, 2023, that shows all contribu- duct contributions to your spouse's IRA. cluding 401(k)), annuity, SEP, SIMPLE,
tions to your traditional IRA for 2022. Enter the total IRA deduction for you etc.) at work or through self-employ-
Use the IRA Deduction Worksheet to and your spouse on line 20. ment, your IRA deduction may be re-
duced or eliminated. But you can still
figure the amount, if any, of your IRA 7. Don’t include rollover contribu- make contributions to an IRA even if
deduction. But read the following list tions in figuring your deduction. Instead, you can't deduct them. In any case, the
before you fill in the worksheet. see the instructions for Form 1040 or income earned on your IRA contribu-
1. You can't deduct contributions to 1040-SR, lines 4a and 4b. tions isn't taxed until it is paid to you.
a Roth IRA. But you may be able to take 8. Don't include trustees' fees that The “Retirement plan” box in box 13
the retirement savings contributions were billed separately and paid by you of your Form W-2 should be checked if
credit (saver's credit). See the instruc- for your IRA. you were covered by a plan at work
tions for Schedule 3, line 4. 9. Don’t include any repayments of even if you weren’t vested in the plan.
2. If you are filing a joint return and qualified reservist distributions. You You are also covered by a plan if you
you or your spouse made contributions can't deduct them. For information on were self-employed and had a SEP,
to both a traditional IRA and a Roth IRA how to report these repayments, see SIMPLE, or qualified retirement plan.
for 2022, don’t use the IRA Deduction Qualified reservist repayments in Pub. If you were covered by a retirement
Worksheet in these instructions. Instead, 590-A. plan and you file Form 2555 or 8815, or
see Pub. 590-A to figure the amount, if you exclude employer-provided adop-
any, of your IRA deduction. 10. If the total of your IRA deduction
on line 20 plus any nondeductible con- tion benefits, see Pub. 590-A to figure
3. You can’t deduct elective defer- tribution to your traditional IRAs shown the amount, if any, of your IRA deduc-
rals to a 401(k) plan, 403(b) plan, sec- on Form 8606 is less than your total tra- tion.
tion 457 plan, SIMPLE plan, or the fed- ditional IRA contributions for 2022, see
eral Thrift Savings Plan. These amounts Pub. 590-A for special rules. Married persons filing separately. If
aren't included as income in box 1 of you weren’t covered by a retirement
your Form W-2. You must receive at least a plan but your spouse was, you are con-
TIP minimum amount from your sidered covered by a plan unless you
4. If you made contributions to your lived apart from your spouse for all of
traditional IRA for each year
IRA in 2022 that you deducted for 2021, starting with the year you reach age 72. 2022.
don’t include them in the worksheet. If you don't receive that minimum distri-
5. If you received income from a bution amount in the year you become You may be able to take the re-
nonqualified deferred compensation age 72, you must receive that distribu- TIP tirement savings contributions
plan or nongovernmental section 457 tion by April 1 of the year following the credit. See the Schedule 3,
plan that is included in box 1 of your year you become age 72. If you don’t, line 4, instructions.

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