03-09-2008, 08:40 PM
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 Re: when rolling a pension fund into an IRA Jane wrote: - quote - > When I retired in 2002 the company had $13k in what they called their
in the fund. As you did not have a cost basis, no 8606 should> "Pension Accumulation Fund". All the money in the fund was put in by > the company. When I retired I rolled it into a traditional IRA with > Vanguard. > I did my taxes with Turbo Tax for 2002. It entered the $13k as a non- > taxable distribution on form 1040 but did not create a corresponding > form 8606 indicating it was rolled over. Should it have? If yes, is > there any need to since all the money will be taxable when I withdraw > it? A Form 8606 only would have been required if you had a cost basis have been filed. -- << ------------------------------------------------------- > << 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. > << ------------------------------------------------------- > |
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#-1
03-09-2008, 07:27 PM
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| when rolling a pension fund into an IRA When I retired in 2002 the company had $13k in what they called their "Pension Accumulation Fund". All the money in the fund was put in by the company. When I retired I rolled it into a traditional IRA with Vanguard. I did my taxes with Turbo Tax for 2002. It entered the $13k as a non- taxable distribution on form 1040 but did not create a corresponding form 8606 indicating it was rolled over. Should it have? If yes, is there any need to since all the money will be taxable when I withdraw it? -- << ------------------------------------------------------- > << 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. > << ------------------------------------------------------- > |
| Tags |
| fund, ira, pension, rolling |
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