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Part III—Additional Tax on Excess Contributions to Traditional IRAs


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If you contributed more for 2009 than is allowable or you had an amount on line 17 of your 2008 Form 5329, you may owe this tax. But you may be able to avoid the tax on any 2009 excess contributions (see the instructions for line 15 on page 4).
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Line 9


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Enter the amount from line 16 of your 2008 Form 5329 only if the amount on line 17 of your 2008 Form 5329 is more than zero.
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Line 10


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If you contributed less to your traditional IRAs for 2009 than your contribution limit for traditional IRAs, enter the difference.
If you are not married filing jointly, your contribution limit for traditional IRAs is the smaller of your taxable compensation (see page 2) or $5,000 ($6,000 if age 50 or older at the end of 2009). If you are married filing jointly, your contribution limit is generally $5,000 ($6,000 if age 50 or older at the end of 2009) and your spouse's contribution limit is $5,000 ($6,000 if age 50 or older at the end of 2009). But if the combined taxable compensation for you and your spouse is less than $10,000 ($11,000 if one spouse is 50 or older at the end of 2009; $12,000 if both spouses are 50 or older at the end of 2009), see How Much Can Be Contributed? in Pub. 590 for special rules.
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If you participated in a 401(k) plan and the employer who maintained the plan went into bankruptcy in an earlier year, you may be able to contribute up to $8,000 to your traditional IRA. See Pub. 590 for more details.
Also include on line 11a or 11b of the IRA Deduction Worksheet in the instructions for Form 1040, line 32, the smaller of (a) Form 5329, line 10, or (b) the excess, if any, of Form 5329, line 9, over the sum of Form 5329, lines 11 and 12.
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Line 11


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Enter on line 11 any withdrawals from your traditional IRAs that are included in your income. Do not include any withdrawn contributions reported on 
line 12.
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Line 12


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Enter any excess contributions to your traditional IRAs for 1976 through 2007 that you had returned to you in 2009 and any 2008 excess contributions that you had returned to you in 2009 after the due date (including extensions) of your 2008 income tax return, that are included on line 9, if:
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Line 15


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Enter the excess of your contributions to traditional IRAs for 2009 (unless withdrawn—see below) over your contribution limit for traditional IRAs. See the instructions for line 10 on page 3 to figure your contribution limit for traditional IRAs. Any amount you contribute for the year in which you reach age 70 or a later year is an excess contribution because your contribution limit is zero. Do not include rollovers in figuring your excess contributions.
You can withdraw some or all of your excess contributions for 2009 and they will not be treated as having been contributed if:
If you timely filed your return without withdrawing the excess contributions, you can still make the withdrawal no later than 6 months after the due date of your tax return, excluding extensions. If you do, file an amended return with Filed pursuant to section 301.9100-2 written at the top. Report any related earnings for 2009 on the amended return and include an explanation of the withdrawal. Make any other necessary changes on the amended return (for example, if you reported the contributions as excess contributions on your original return, include an amended Form 5329 reflecting that the withdrawn contributions are no longer treated as having been contributed).