Form 5500EZ line 10g

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Subject Author Date Form 5500EZ line 10g Steve Pope 07-17-2009  Re: Form 5500EZ line 10g Bill Brown 07-17-2009   Re: Form 5500EZ line 10g Steve Pope 07-17-2009
Posted by Steve Pope on July 17, 2009, 10:49 am Please log in for more thread options This may be a little out of scope but: If the total combined interest received and realized capital loss within a retirement plan is negative for the plan year, does one enter a negative number on line 10g (and if so, how does one do this... use a minus sign?), or does one report zero? Thanks, Steve -- << ------------------------------------------------------- >> << 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. >> << ------------------------------------------------------- >> Posted by Bill Brown on July 17, 2009, 12:12 pm Please log in for more thread options On Jul 17, 10:49 am, spop...@speedymail.org (Steve Pope) wrote: > This may be a little out of scope but: > > If the total combined interest received and realized capital loss > within a retirement plan is negative for the plan year, does > one enter a negative number on line 10g (and if so, how does According to page 7 of the instructions for the 2008 version of Form 5500EZ, the total shown on line 10g includes net income. Since net income could be negative (a loss), the total could be negative. Since there is no EXPLICIT instruction to enter zero when the total is negative, the total should be shown at its actual value including shown as negative when negative. > one do this... use a minus sign?), or does one report zero? > According to page 4 of the instructions for the 2008 version of Form 5500EZ, negative numbers are indicated by a minus sign to the left of the "entered to the left of the number." -- << ------------------------------------------------------- >> << 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. >> << ------------------------------------------------------- >> Posted by Steve Pope on July 17, 2009, 12:20 pm Please log in for more thread options >On Jul 17, 10:49 am, spop...@speedymail.org (Steve Pope) wrote: >> If the total combined interest received and realized capital loss >> within a retirement plan is negative for the plan year, does >> one enter a negative number on line 10g (and if so, how does >According to page 7 of the instructions for the 2008 version of Form >5500EZ, the total shown on line 10g includes net income. Since net >income could be negative (a loss), the total could be negative. Since >there is no EXPLICIT instruction to enter zero when the total is >negative, the total should be shown at its actual value including >shown as negative when negative. >> one do this... use a minus sign?), or does one report zero? >According to page 4 of the instructions for the 2008 version of Form >5500EZ, negative numbers are indicated by a minus sign to the left of >the "entered to the left of the number." Thanks. I agree. Steve -- << ------------------------------------------------------- >> << 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. >> << ------------------------------------------------------- >> Similar Threads Posted My first form 8606 and line 6 definitions January 21, 2007, 4:37 pm What date goes onto Form 706 Part 1 Line 3b? October 6, 2007, 10:27 pm TaxACT and Yellow Alert on Form 6251 AMT-Individuals, Line 17 March 20, 2008, 3:06 pm Include points in "interest paid on eligible mortage" for AMT (Line 4, Form 6251) February 4, 2007, 2:05 am question about line 75 - Amount of line 73 you want applied to your 2008 estimated tax June 23, 2008, 6:31 pm Form 6251- Line 4 of Home Mortgage Interest Adjustment Worksheet, accounting method needed to determine a HELOC interest usages. October 16, 2008, 10:51 am IRS follies: form 56 fiduciary vs. form 8822 change of address April 21, 2008, 9:54 pm Gas Expense tax Line?? January 24, 2007, 2:15 am Tax Line for Expenses January 24, 2007, 2:54 am Which Line in Schedule C ? March 17, 2008, 7:56 am