Where on 1040 to put entries

Insufficient information. If you mean a $500 contribution, is it to a traditional IRA? Then, you can deduct it as an adjustment to income on line 32. If you're speaking of a normal Distribution, then it goes on line 15b. If it's a premature distribution, then in addition to the line 15b entry, you'll need to enter 10% as an "additional IRA tax"

-- on line 60. Also, if it's a Roth IRA contribution, then you have no deduction, but you could get credit for Retirement savings contribution on line 51 (but you'll need to also fill out Form 8880 -- which could also apply to a traditional IRA contribution, as an alternative to the deduction.)

CD accounts produce interest income, and that would be entered on Schedule B -- or, if your total interest is under $1500, can be entered directly on line 8a. Bill

Unless you made a contribution to your IRA or took a withdrawal from it there is nothing to report on your tax return.

The interest earned from regular CDs is reported on Schedule B.

Given your uncertainty on such basic items, you may wish to use a paid prepaper.

You mean the account itself or a $500 contribution you made to it this year?

Line 8a, taxable interest. But if total interest is more than $1500, you have to fill out Schedule B and carry the total to line 8a.

-- Rich Carreiro snipped-for-privacy@animato.arlington.ma.us

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