Roy Starrin <starrin[at]verizon.net> wrote:

- quote -

If I understand correctly, you took your required minimum
distributions and you rolled over the rest to an IRA.

The rollover(s) had to occur within 60 days of the
distribution in order to treat this as a rolllover.

But if you did rollover to an IRA, on Form 1040 Line 15a you
report the gross amount of distruibution, and on line 15b
you report only the amount not rolled over. And to the left
of Line 15 write: ROLLOVER

That's simple, right?

--
Art Kamlet ArtKamlet [at] AOL.com Columbus OH K2PZH

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Roy Starrin wrote:

- quote -

Show the gross distribution on Line 15a of the 1040 and the
taxable RMD on Line 15b. Write the word Rollover on that
line.

--
Alan
http://taxtopics.net

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"Roy Starrin" <starrin[at]verizon.net> wrote:

- quote -

You report the rollover on line 15 of your 1040. The new
IRA custodian(s) will also report the rollover to IRS.

--
Phil Marti
Clarksburg, MD

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Have just started getting info together, so this may be
someplace in the Pub 19, etc., but one worries more as one
gets older. In 2006, I rolled wife's longstanding IRA and
also my separate IRA out of a Fidelity Fund, deducted the
mandatory (over 70) deductions and deposited them
(separately) into local CDs/IRAs. Forms from Fidelity makes
it appear that we kept it all out, which, as far as they
know, we did. How do I insure in filing our otherwise
simple, standard deduction 1040 that the IRA doesn't get the
same impression and come after us for taxes on the entire
amounts vice just the taxes on the madatory withdrawls.
What must I ensure that I do? Or will all be explained when
I get into it, so that nothing can go wrong...can go
wrong...can go wrong...

<< ================================================== ===== > << The foregoing was not intended or written to be used, > << nor can it used, for the purpose of avoiding penalties > << that may be imposed upon the taxpayer. > << > << The Charter and the Guidelines for submitting posts > << to this newsgroup as well as our anti-spamming policy > << are at www.asktax.org. > << Copyright (2006) - All rights reserved. > << ================================================== ===== >