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#2
04-17-2009, 04:37 PM
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 Re: Form 1040X to reclaim 10% early distribution penalty On Apr 16, 8:38*pm, sberne...[at]hotmail.com wrote: - quote - > I plan on completing a form1040X to reclaim some of the 10% early IRA
medical, 7.5% of your AGI, and the difference (along with Form 5329).> withdrawal penalty I paid in 2007 since I paid my own medical premiums > during that year, I was unemployed and I received unemployment > benefits. Do I need to send supporting documents with the 1040X such > as copies of the cancelled checks I sent to the insurance company? > Also, on the blank lines on the 1040X where an explanation is > required, should I state just what I stated here? Thanks. > Sara attach a Schedule A to the 1040X, showing your total out-of-pocket Doesn't matter if you itemize or not. -- << ------------------------------------------------------- > << 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
04-17-2009, 02:20 AM
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| Re: Form 1040X to reclaim 10% early distribution penalty sbernelli[at]hotmail.com wrote: - quote - > I plan on completing a form1040X to reclaim some of the 10% early IRA
No. Wait and see if the IRS asks for anything within the required time> withdrawal penalty I paid in 2007 since I paid my own medical premiums > during that year, I was unemployed and I received unemployment > benefits. Do I need to send supporting documents with the 1040X such > as copies of the cancelled checks I sent to the insurance company? limit. - quote - > Also, on the blank lines on the 1040X where an explanation is
You should explain each line on the front of the 1040X, by reference to> required, should I state just what I stated here? Thanks. the line number, where something changed. Attach copies of all schedules and forms that have changed on the original return. -Mark Bole -- << ------------------------------------------------------- > << 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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04-17-2009, 02:15 AM
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| Re: Form 1040X to reclaim 10% early distribution penalty In article <f1e22a40-2f0a-4b72-ad2e-1c9e965bb361[at]3g2000yqk.googlegroups.com> , <sbernelli[at]hotmail.com> wrote: - quote - > I plan on completing a form1040X to reclaim some of the 10% early IRA > withdrawal penalty I paid in 2007 since I paid my own medical premiums > during that year, I was unemployed and I received unemployment > benefits. Do I need to send supporting documents with the 1040X such > as copies of the cancelled checks I sent to the insurance company? > Also, on the blank lines on the 1040X where an explanation is > required, should I state just what I stated here? Thanks. No. Just attach a form 5329 to the 1040X and if the IRS wants more information they will ask for it. -- 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. > << ------------------------------------------------------- > |
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#-1
04-17-2009, 12:38 AM
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| Form 1040X to reclaim 10% early distribution penalty I plan on completing a form1040X to reclaim some of the 10% early IRA withdrawal penalty I paid in 2007 since I paid my own medical premiums during that year, I was unemployed and I received unemployment benefits. Do I need to send supporting documents with the 1040X such as copies of the cancelled checks I sent to the insurance company? Also, on the blank lines on the 1040X where an explanation is required, should I state just what I stated here? Thanks. Sara -- << ------------------------------------------------------- > << 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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