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FORM IR37B IRAS

FORM IR37B IRAS

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okay so we are continuing with the uh John taxpayer example and Turbo Tax the self-employed version so for this video we're going to cover how to enter the traditional IRA contributions that John's going to make for the year and what are going to be the income and deduction issues that apply so if we look at uh first slide here just to kind of recap what we're going to cover here so talk briefly about the differences between the traditional IRA and the Roth I'll talk about the limits on how much we can put into these uh retirement accounts and what's going to be the deductibility so the tax deduction if any available to making those contributions talk briefly about the form 8606 and when that could apply and then we'll also look at how to actually record the contribution into turbo tanks and where we're going to see the tax deduction on the return all right so a quick recap the example we've been working with so far John taxpayer these elements in the first bullet point here have been

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