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Posted by njoracle on April 30, 2007, 11:22 am
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Benjamin Yazersky CPA wrote:
>> I have a ROTH IRA for over 7 years and I am over 60. In 2007
>> I received a "distribution payment" from a fund as a result
>> of an SEC action against the fund. The SEC said I was an
>> "injured" investor because of market timing carried on by
>> the fund. I will probably deposit the check into th ROTH IRA
>> and I'm sure this is not a taxable event.
>>
>> However, what do I need to do in regard to filling out my
>> 2007 tax forms? If the fund issues a 1099-R, then I'll just
>> report that on my income tax. What if they don't issue a
>> 1099-R? Do I not report it?
> sounds more like you received a payment from the fund mgmt
> co not a distribution from your roth
Yes, that is correct.
> (hope you got more than $10)
(It is $160).
The details of the reason for the payment are covered at
http://www.pbafairfundsettlements.com/start.asp
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