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#1
03-03-2009, 03:45 AM
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 Re: Under age Rollover to Roth IRA, how do I show that on the 1040form On Mar 2, 5:14*am, "Phil Marti" <prm20...[at]verizon.net> wrote: - quote - > "hr(bob) wrote:
Phil:> > My *40 year old daughter rolled over her regular IRA to a Roth IRA > > last October. *Her 1099-R shows the correct amount of the conversion > > and has *an X in the "taxable amount not determined" column. *From the > > lines 15a and 15b instructions on pg 23 of the "1040 forms and > > instructions" *booklet, she should enter the amount in column 15b > > since it is taxable. * That is fine, but how does she show *that it is > > a rollover into a Roth IRA and not subject to any age-related penalty? > She reports the Roth conversion in Part II of Form 8606, which feeds line > 15b of the 1040. > -- > Phil Marti > Clarksburg, MD OK - It looks like Part II of 8606 will do it. Thanx! Bob Hofmann -- << ------------------------------------------------------- > << 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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03-02-2009, 10:14 AM
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| Re: Under age Rollover to Roth IRA, how do I show that on the 1040 form "hr(bob) wrote: - quote - > My 40 year old daughter rolled over her regular IRA to a Roth IRA
She reports the Roth conversion in Part II of Form 8606, which feeds line> last October. Her 1099-R shows the correct amount of the conversion > and has an X in the "taxable amount not determined" column. From the > lines 15a and 15b instructions on pg 23 of the "1040 forms and > instructions" booklet, she should enter the amount in column 15b > since it is taxable. That is fine, but how does she show that it is > a rollover into a Roth IRA and not subject to any age-related penalty? 15b of the 1040. -- 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. > << ------------------------------------------------------- > |
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#-1
03-02-2009, 05:03 AM
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| Under age Rollover to Roth IRA, how do I show that on the 1040 form My 40 year old daughter rolled over her regular IRA to a Roth IRA last October. Her 1099-R shows the correct amount of the conversion and has an X in the "taxable amount not determined" column. From the lines 15a and 15b instructions on pg 23 of the "1040 forms and instructions" booklet, she should enter the amount in column 15b since it is taxable. That is fine, but how does she show that it is a rollover into a Roth IRA and not subject to any age-related penalty? -- << ------------------------------------------------------- > << 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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