"Seth" <sethb[at]panix.com> wrote:

- quote -

Great catch!

I see no reason why it wouldn't work, unless it creates problems with the
once in 12 month limitation on rollovers. Much easier than trying to get
the check reissued.

--
Phil Marti
Clarksburg, MD

Ray <rayj.balt[at]DELTHISverizon.net> wrote:

- quote -

Would it be possible/permissible to consider it a withdrawal
and redeposit it as a rollover?

Seth

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Ray wrote:
- quote -

In that case, can't hurt to see if you could convince the
distributor to reissue a 1099R that I could see. Not that
they're likely to do so, but...

Otherwise, just report it as you say and have the
explanation if asked...I guess for that amount I'd be sure
to make any RMD (if required) satisfy that requirement
independent of this just to be on the safe side.

<< ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- >

"Ron Rosenfeld" <ronrosenfeld[at]nospam.org> wrote:

- quote -

Yes

--
Phil Marti
Clarksburg, MD

<< ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- >

Phil Marti" <prm20871[at]verizon.net> wrote:

- quote -

I have not seen my check yet. But I expect it will be made
out to me. In my case, the original holding was in a Roth
IRA, with a custodian who I no longer use.

So I am assuming, from what has been written here, that for
me it would be a qualified withdrawal, not subject to any
taxes or penalties.

Is that correct, in your opinion?

--ron

<< ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- >

"Arthur Kamlet" <kamlet[at]panix.com> wrote:
- quote -

Thanks to you and others who gave similar advice.

Actually, I'm already in the withdrawal period of my IRA,
and I can easily absorb this additional withdrawal without
any penalty or any consequence other than to pay the tax on
the $431.

Seems to me the simplest way would be to go ahead and report
it as an IRA withdrawal, even though it won't be reported on
my 1099R forms. But it might confuse the IRS.

<< ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- >

"Ray" <rayj.balt[at]DELTHISverizon.net> wrote in

- quote -

Have you asked Ahold? They still maintain a website,
www.ahold.com, even with an investor relations link under
contacts. AHONY.PK shares are today at US$14.55, although
in 199 they were ~$40 (and the dollar has devalued, so in
Euros they lost much more).

Ahold still owns Albert Heyn, Giant, Peapod, Stop & Shop.
Yes, there was an enormous brouhaha, because they expanded
too fast, but Ahold survived somewhat.

--
Best regards
Han
email address is invalid

<< ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- >

"Ray" <rayj.balt[at]DELTHISverizon.net> wrote:

- quote -

Contact the settlement agent, return the check, and have it
reissued to your IRA. It should be deposited there. If you
cash the check, not only will you owe tax on the settlement,
you will probably owe a 10% penalty. Your state may also
assess a penalty (in addition to any tax due).

Ira Smilovitz

<< ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- >

Ray <rayj.balt[at]DELTHISverizon.net> wrote:

- quote -

The proper way to have handled this was to file claim papers
using the IRA name.

At this point, you should try to convince he IRA custodian
to accept the check as a settlement of claim. He will
either say no way, or will accept it and then should
code it as a dividend not as a new contribution.

You could also cash it for your personal use but that
would make it an IRA distributon subject to a 10% early
distribution penalty if appropriate.

--
ArtKamlet at a o l dot c o m Columbus OH K2PZH

<< ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- >

"Ray" <rayj.balt[at]DELTHISverizon.net> wrote:

- quote -

The payment was drafted incorrectly. Return it and have it
reissued to your IRA. It then gets deposited in your IRA as
earnings.

--
Phil Marti
Clarksburg, MD

<< ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- >

A few years ago I held some shares in Royal Ahold, a Netherlands-based
company which at that time owned Giant supermarkets in the USA.

I'm not entirely clear what happened, but there was a near-collapse --
during the Enron and Worldcom scandals.

At some point I was invited to join a class action, which I did, while
thinking I'd be wasting my time. Lo and behold, today I got a check for
$431.

Now comes the tax question: These shares were held in my IRA account, but
the settlement payment was made directly to me. As far as I can tell nothing
went through my IRA custodian broker.

So how should this settlement be reported on my return for 2007?

I would assume it would be reported as an IRA withdrawal, except that the
IRA custodian seems to have no record and reported nothing.

I should add, because it was in an IRA account, I never claimed any loss on
the shares.

<< ------------------------------------------------------- > << 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 (2007) - All rights reserved. > << ------------------------------------------------------- >