Question

I received a distribution from a traditional IRA form 1099R box one question distribution was $10,000 inbox to taxable but with white box to be taxable mountain not determine an IRASEP simple box. Also had a next for the past two years made that a contributions of 9000 and ends of 1000 has no form 8606 because they never made any nondeductible contributions to traditional IRA based on the information given what amount of income will be reported online for me a form 1040

Answer 1

The $10,000 distributed from a traditional IRA should be reported as taxable income on line 4b of Form 1040 because the taxpayer had not made any non-deductible contributions.

Step-by-step explanation:

The question pertains to determining the amount of income to be reported from a traditional IRA distribution when filling out Form 1040 for income tax purposes. If the taxpayer has only made deductible contributions to their traditional IRA and they receive a distribution, the total distribution amount is generally considered taxable income. As per the details provided, since the taxpayer didn't make any non-deductible contributions, there's no need for Form 8606, which is used for reporting such contributions. Therefore, the entire distribution amount of $10,000 would typically be reported as taxable income on line 4b of Form 1040.