Correction to Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs)

 

If you downloaded the 2019 Publication 590-A before February 26, 2020, please note that the text on Worksheet 2-1 on page 40 that follows line 12 has been updated to read as follows to correct line references in the first and third sentences.

Is the amount on line 11 more than the amount on line 12?
If yes, see the Note below.
If no, the amount on line 11 is your modified adjusted gross income for Roth IRA purposes.

Note. If the amount on line 11 is more than the amount on line 12 and you have other income or loss items, such as social security income or passive activity losses, that are subject to AGI-based phaseouts, you can refigure your AGI solely for the purpose of figuring your modified AGI for Roth IRA purposes. (If you receive social security benefits, use Worksheet 1 in Appendix B to refigure your AGI.) Then go to line 3 above in this Worksheet 2-1 to refigure your modified AGI. If you do not have other income or loss items subject to AGI-based phaseouts, your modified adjusted gross income for Roth IRA purposes is the amount on line 11 above.