W-2 Box 12 coded AA does not carry over to IRA worksheet
W-2 Box 12 coded AA does not transfer to IRA worksheet.
Is this an error or does it not need to be considered if taxpayer is MFS and lived with spouse?
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03/31/11 3:12pm PDT
Viewed by asker 10/16/11 6:50am PDT
Viewed by asker 10/16/11 6:50am PDT
4 Replies
Charlotte256
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03/31/11 3:19pm PDT
This is a Roth IRA, not deductible, only part of basis.
When anyone doing nothing needs help, I will gladly help that person do nothing.
03/31/11 4:05pm PDT
I am aware of this, but was using the worksheet to determine, if in fact, the taxpayer must file jointly with spouse in order to make the contribution. With normal Roth contributions, that is the case. I am thinking,however, that for the designated Roth 401k there is no such restriction.
03/31/11 6:01pm PDT
The solution
It's a ROTH 401k, not an IRA, so there is no such restriction. Such is a benefit of the designated ROTH 401k.
04/01/11 8:12am PDT
Latest post
Thank you! After more digging, I found that out as well. BUT I appreciate your sharing something you knew more about than I.
