Pensions

Roth Conversion	Data entry:
Name of Payer	AnyRoth
1=Traditional IRA/SEP/SIMPLE, 2=Roth IRA, 3=charitable gift annuity, 4=W-2G	1
Gross Distribution	$12,500
Taxable Amount	$10,500
Traditional/SEP/SIMPLE IRA
Traditional/SEP/SIMPLE IRA distributions converted to Roth IRA	$10,500

Program Considerations

• You can enter pension income information through the grid input or the expanded detail.
• The expanded input of Screen 13, Pensions, IRA, W-2G is designed to facilitate data entry
  from a Form 1099-R.
• Check the Spouse box to indicate the pension relates to earnings of the spouse. If you do not check this box, the program assigns the entries to the taxpayer.
• Conversions from traditional IRAs to Roth IRAs and associated recharacterizations are reported on Form 8606, Part II. The amount entered in the Gross distribution field should include both conversion and recharacterization amounts. Amounts entered in the Taxable amount field should include only conversion amounts.

How?

To enter a pension item:

1. Open the sample client.
2. Open the Pensions, IRA, W-2G screen at the Contents tab.
   
3. Enter the information from the Pensions table above in the appropriate input fields.

To view a different pension item:

1. Click the item in the 1099-R or W-2G list.
   

To add a new pension item:

1. Click Add at the bottom of the 1099-R or W-2G list.

To delete a pension item:

1. Click the item in the 1099-R or W-2G list.
2. Click Delete at the bottom of the list. 

Tips & Shortcuts

You can press [Ctrl]+[A] to add another pension item.

Review

You should have entered the pension and Roth conversion information for the sample return and produced the following results on Form 1040:

Troubleshooting

Problem: The program is not printing anything on line 16b of Form 1040 for Taxable amount.

Solution: Make sure that you entered the taxable amount of the distribution in the Taxable amount (2a or other computation) field.

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