Pension Deduction on 1040

[Pension RC]

My understanding is that the pension deduction for a partner should be reported on that partner's 1040, but the partner's accountant thinks that it should be reported on the K-1. Does anyone have a citation that states how it should be reported?

Thanks for any responses!

[jpod]

The only cite I have for you is the 1040 Instructions themselves. I am sure one can dig deeper and find something more "official" looking, but what more does the accountant need than that?

[K2retire]

Doesn't it get reported on the K-1 then flow through to the 1040 from there?

[jpod]

If you are suggesting that it reduces the net income which the partner will report as gross income in the top half of page 1 of the 1040, that's not how it is done. The pension contribution is a separate adjustment to GI which the partner reports in the bottom half of the page.

[Pension RC]

Thanks for your responses! The specific question now is - why is it reported on the 1040 and not on 1065? Is it that reporting it on the 1065 will reduce the net schedule C income, which will, then, reduce the medicare tax?

[rcline46]

It is so because Big Daddy (the IRS) says so. No other reason is necessary.