On Sat, 17 Dec 2005 16:44:05 -0600, Lee <lkarwoski[at]comcast.net> wrote:
- quote -

It is an "IRA distribution" line 15a of form 1040 (see instructions for
15b, or if using different form). If all contributions were deductable,
15b would be same as 15a. If any contributions were taxed
(non-deductable), 15b would be minus the already taxed contributions (if
proper form was filled out at time such contributions were made).

It it is a lot of money and would be hit with heavy tax, she may be able
to take part of it and keep the rest in another IRA CD. But pay attention
to required distributions based on her age. Otherwise there may be a
penalty for NOT taking enough required distribution. See IRS publication
590 at http://www.irs.gov/

My elderly mother (age 88) has a conventional IRA account as a bank CD.
This account was rolled over many years ago from a profit sharing
plan funded 100% by her employer. What are the income tax consequences
of liquidating this account? How would it be reported on her tax
return?