51)$51)$A taxpayer has taken the following qualified distributions for the 2022$2022$ tax year:

One from their Roth IRA ($($Code Q)$)$ in the amount of $25$25$K

One from their Traditional IRA ($($Code 7,$7,$ Normal)$)$ in the amount of $10$10$K

You need to provide the correct entries in the following boxes of the federal form 1040$1040$:

4$4$a IRA Distributions

4$4$b Taxable Amount

Is the following statement correct about this task?

a)$)$Line 4$4$b Taxable Amount of your 1040$1040$ should be $10$10$K

b)$)$Line 4$4$a IRA Distributions of your 1040$1040$ should be $10$10$K for total IRA Distributions

 

Answer rating: 100% (QA)

First its essential to understand what the numbers and lines on the 1040 tax form represent Line 4a ... View the full answer