The program pulls in all types of retirement income for the calculation of Form 8880 from your 1099-R entries. There are certain situations when not all retirement income should be included in this calculation. You can subtract distributions that should not apply by entering the distributions directly in the 8880. The highlighted areas below on the 8880 entry menu have been updated for better on-screen guidance so users can subtract our retirement distributions that should not be included in determining if the taxpayer/spouse qualifies for the Retirement Savings Contribution Credit. For example, military retirement income would not be included in the 8880 calculation so you would enter those distributions received as a negative value.
Blog Post 03/17/2017 8:00 AM