Tim or Linda wrote:

- quote -

You just don't dispute it, but add both 1099r's to the
appropriate line. (possibly two separate lines, one for the
IRA and one for the other. Your taxable amount will be
those amounts from the IRA. And possibly subject to
penalties. But you knew that.

ChEAr$,
Harlan Lunsford, EA n LA
Fri 3 Feb 2006

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T&L[at]askme.net (Tim=A0or=A0Linda) posted:

- quote -

You should simply report the 1099R amount, and explain it as
a rollover. As you stated it, since the check was written
directly to your new trustee, it does seem that ML was in
error, but rather than argue it would be easier to simply
explain that you had complied with IRS regs and rolled it
over in less than 60 days.

- quote -

Yes, you will have to pay taxes; however, you may avoid the
10% Penalty for early distribution (before age 59 1/2), if
you had unreimbursed medical expenses that exceed 7.5% of
your AGI. There are also other "exceptions" that would
avoid the 10% penalty -- and they are all enumerated in Pub
590 ["Exceptions -- to age 59 1/2 rule."

In view of the complexity of your situation, I would
recommend that you seek professional assistance.

Bill

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >

"Tim or Linda" <T&L[at]askme.net> wrote:

- quote -

The Merrill Lynch IRA is reported as a rollover into a
qualified and is not taxed. You don't need to dispute it.

- quote -

This depends on whether you are considered disabled per IRS
code section 72 (m)(7). If you get a statement from your
doctor as to your disability, your distributions may be
exempt from the 10% penalty for early distribution. You
always have to pay income taxes on the money withdrawn.

Wayne Rivers, CPA

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I had rotator cuff surgery in October 2004. In June 05 I
had to have it again as it did not heal. Now I find it
still has not healed and I have been disabled because of
this for over 15 months.

In April I had withdrew all my annuity money and had to
rolled over to an IRA. Throughout this past year I have
made withdrawals to live on. I got a 1099R from the IRA
account I rolled the money into. But I also got a 1099R
from Merrill Lynch. This makes two 1099R for the same
money. It makes it look like I received double the money.
The check from Merrill Lynch was not made out to me but to
the IRA fund.

I have filed for Social Security Disability and got denied.
I am have an appeal hearing in March.

My question is
How do I dispute the 1099R from ML?
And with being on disability for the past year do I have to
pay tax's on the money I took out?

TIA

<< ================================================== ===== > << The foregoing is intended for educational purposes only > << and does NOT constitute legal OR professional advice. > << > << The Charter and the Guidelines for submitting > << messages to this newsgroup are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >