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In 2014 I had contributed 5500 to a ROTH. My income was to
In 2014 I had contributed 5500 to a ROTH. My income was to high so I had to convert 2400 over to a traditional IRA. In 2015 I had a similar year and had to convert 2300 to Traditional from the ROTH. I… read more
Lane
Lane
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I had taken a distribution from an IRA last year and had 15%
I had taken a distribution from an IRA last year and had 15% federal taxes withheld form the distribution. But this IRA was a rollover from post tax dollars from a 401k in 2014. … read more
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Vocational, Technical or Trade School
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I have a 1099R for a friend that I am helping with her
I have a 1099R for a friend that I am helping with her taxes. The Box 7 Code is J. The box 1 amount is 14,800. She rolled over 10,000 to her IRA in 2014 and contributed 4,000 in 2015 then 1,300 in 201… read more
emc011075
emc011075
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I'm trying to figure out my taxes and I have a fairly
I'm trying to figure out my taxes and I have a fairly confusing (perhaps unusual) circumstance: While trying to pay taxes last year (April of 2014), I realized that I had made a contribution to my Rot… read more
emc011075
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My 90 yr. old mother received $17,976.00 from her Roth contributions
My 90 yr. old mother received $17,976.00 from her Roth contributions does she have to file taxes for 2014?… read more
Lev
Lev
Retired
Bachelor's Degree Equivalent
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A SPOUSE DIED IN JUNE OF 2013. SHE HAD NONDEDUCTIBLE IRAS.
A SPOUSE DIED IN JUNE OF 2013. SHE HAD NONDEDUCTIBLE IRAS. SHE RECEIVED A 3300 DISTRIBUTION. THE HUSBAND HAD HER IRA ROLLED OVER INTO HIS. HOW DO I SHOW THIS ON THE 2 8606 FORMS? DO I SAY SHE ONLY HAD… read more
Lev
Lev
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In 2010 my Uncle died and named me as a beneficiary on his
In 2010 my Uncle died and named me as a beneficiary on his Roth account in the amount of $13,640.94. My income as a self employed window washer was $2,035. I paid the self employment tax of $250. The … read more
jgordosea
jgordosea
Enrolled Agent
Bachelor's Degree
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In previous years my wife and I filed 8606 forms with our
In previous years my wife and I filed 8606 forms with our tax return for at least the last 25 years. We put in the amounts we invested in various IRA's over the years. We both are retired. Unfortunate… read more
Lev
Lev
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Bachelor's Degree Equivalent
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I converted an ordinary IRA to a Roth IRA in December, 2010;
I converted an ordinary IRA to a Roth IRA in December, 2010; and I immediately sent the IRS a very large estimated tax payment check fully covering the 2010 income tax on that conversion. Since I live… read more
USTaxAdvising
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When I retired I rolled over my Fidelity 401K from a company
When I retired I rolled over my Fidelity 401K from a company account to a private Fidelity account--never touching the money. At the time I had (approx) $250,000 in pre-tax and $50,000 in post-tax sav… read more
Lev
Lev
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My question is regarding Tax Form 8606. In 2010, I borrowed
My question is regarding Tax Form 8606. In 2010, I borrowed money from a qualified 401K employer-sponsored plan. I paid federal and state taxes plus the additional 10% for early withdrawal. The remain… read more
Lev
Lev
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I have rolled over my 401k (terminated at age 54). I had the
I have rolled over my 401k (terminated at age 54). I had the pre-tax amount, 1,077,000, sent direcltly into a rollover IRA. I had the pre-1987 after tax amount, 47,000, sent directly to my Roth IRA. T… read more
CGCPA
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I converted my 401(k) last November. I was under the assumption,
I converted my 401(k) last November. I was under the assumption, that I could roll over the After-tax portion into a Roth IRA and the remainder into a traditional IRA. Now I have received Form 1099-R … read more
Lev
Lev
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Hello. I had some previous employer 401k plans that I rolled
Hello. I had some previous employer 401k plans that I rolled over into IRA's; there is not one IRA account but multiple IRA accounts - all from previous employer 401k plan distributions (qualified rol… read more
Jacy
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I live in L.A. and Im 34 y/o. I rolled over a 401K into an
I live in L.A. and I'm 34 y/o. I rolled over a 401K into an IRA in Feb. of 2010, the total amount was $6,012 and the value now is approx. $6,300. I checked the account balance on the company's website… read more
Arthur Rubin
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Doctoral Degree
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In 2006 my wife and I purchased a MINORITY share of a ...
In 2006 my wife and I purchased a MINORITY share of a privately held California S corporation. I took a Roth IRA withdrawl, in the form of a check made out directly to the seller of stock, to purchase… read more
Marvin,EA
Marvin,EA
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Bachelor's Degree
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A friend of mine (also a widow) received her husbands ...
A friend of mine (also a widow) received her husband''s 401k plan monies as a beneficiary. It was not taxable. I received my husband''s 401k as a beneficary and rolled it over to an IRA. At age 70 I h… read more
MequonCPA
MequonCPA
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Master's Degree
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I am 61 years old and took a distribution, in 2007, ...
I am 61 years old and took a distribution, in 2007, from my Roth IRA of 15,000. The IRA, at that time, had 32000 in it. How do I report this distribution and will it be taxed as ordinary income? I hav… read more
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