Answered: MFJ; ttl 1040 line 7 income > $63K. Taxpayer has 401K. Spouse none. Form 8880 $0 credit. If I show spouse with IRA contribution, Form 8880 computes a $400 credit.

mikepaasch · ‎12-07-2019

rbynaker · ‎12-07-2019

Sounds like the spouse's IRA contribution reduces the AGI below $63K.

rbynaker · ‎12-07-2019

Sounds like the spouse's IRA contribution reduces the AGI below $63K.

mikepaasch · ‎12-07-2019

Thanks for clarification. Plus, I feel silly! 1040, line 7 is AGI! My mind was thinking of line 7 of prior years' 1040 forms which was wages/salaries, etc.! Line 7 for 2018 1040 is AGI! Too early in the morning for me when I started working on the return!

rbynaker · ‎12-07-2019

No worries, we've all been there. This year probably more so than most!

MFJ; ttl 1040 line 7 income > $63K. Taxpayer has 401K. Spouse none. Form 8880 $0 credit. If I show spouse with IRA contribution, Form 8880 computes a $400 credit.

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MFJ; ttl 1040 line 7 income &gt; $63K. Taxpayer has 401K. Spouse none. Form 8880 $0 credit. If I show spouse with IRA contribution, Form 8880 computes a $400 credit.

©1997-2024 Intuit, Inc. All rights reserved.

Intuit, QuickBooks, QB, TurboTax, and Mint are registered trademarks of Intuit, Inc. Terms and conditions, features, support, pricing and service options subject to change without notice.

By accessing and using this page you agree to the Terms and Conditions.

MFJ; ttl 1040 line 7 income > $63K. Taxpayer has 401K. Spouse none. Form 8880 $0 credit. If I show spouse with IRA contribution, Form 8880 computes a $400 credit.