Does Roth Contribution show up in 1040 filing?
I’ve just finished (I think) my entire 1040 and attachments.
I am making a maximum $6K Roth contribution for each of myself and wife for 2008. I don’t see anything in my filing that would indicate to the IRS that I’m making that contribution. Am I missing something…? Is it not necessary somehow to inform the IRS that I’m making that contribution…? These will go into existing Roth accounts.
Permalink Submitted by Alan Spross on Mon, 2009-03-30 04:34
Your regular Roth contributions are not usually reported on your 1040.
They would only be shown on Form 8880 if you happen to qualify for the Retirement Savings Contribution tax credit ( aka Savers Credit). That credit would appear on line 51 of Form 1040. If your modified AGI is over 53,000, it is too high for you to qualify for this credit.