If the reporter cashed the check for the month of death (and any later months), do not ask for a refund. Advise the reporter that the Treasury Department (TD) may request the funds back from the bank that cashed the check for a period of up to 12 months from the month that SSA learns of the death.
For example, if 5% of your non-Roth IRA are non-deductible contributions, then 5% of the conversion amount must be non-deductible contributions, and the rest must come from the deductible contributions, including earnings and rollover contributions.
Tax Reporting. The deduction for contributions to a traditional IRA by both a husband and a wife is reported together as the IRA deduction. You can use either Form 1040 or Form 1040A, but not Form 1040EZ.The deduction goes on the line entitled IRA Deduction..For example, if the husband contributes $4,000 and the wife contributes $4,000, report an $8,000 IRA deduction. You can claim the deduction without having to itemize and give up the standard deduction.ot everyone qualifies to deduct their contributions to a traditional IRA. If neither the husband nor the wife participates in a employer-sponsored plan, both spouses can deduct their full contribution.