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I have a couple where the husband makes $266,000 and the…

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I have a couple where...
I have a couple where the husband makes $266,000 and the wife working as a realtor made a net of $180,000. I understand that she should be able to contribute 20% of her income to a SEP IRA. So that should be $36,000, which is below the max threshold of $53,000 for 2017. Unfortunately, when I fill out form 8606, no matter what line I put the $36,000 ( or any amount for that matter) I never see it carried over on line 32 on the 1040.
There is a chance that my tax software is the one prohibiting this transaction. If you just assure me which lines I should use and that there is no other form that needs to be filled out, I'd appreciate it.
Submitted: 1 month ago.Category: Tax
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Answered in 18 minutes by:
3/11/2018
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 1 month ago
ABC Accounting Group
ABC Accounting Group, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 867
Experience: Business Consultant/Accounting Manager
Verified

Hi. Great Question.

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Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 1 month ago

Hi. Check Line 28. Save and see if it will calc. Sometimes, automatic calc is off.

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Customer reply replied 1 month ago
Line 28? Form 8606 only goes to line 25?
Tax Professional: ABC Accounting Group, Certified Public Accountant (CPA) replied 1 month ago

Line 25 on the 1040 is HSA - you have an IRA - just confirming.

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Customer reply replied 1 month ago
Your responses to my questions aren't making any sense. Please stop emailing me.
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