Under age Rollover to Roth IRA, how do I show that on the 1040 form

Taxes General Forum - Tax professionals meeting place and answers to queries. (Moderated) 

Yahoo!   Google   Windows Live   del.icio.us   digg   Netscape

Subject Author Date Under age Rollover to Roth IRA, how do I show that on the 1040 form hr(bob) hofmann@att.net 03-02-2009  Re: Under age Rollover to Roth IRA, how do I show... Phil Marti 03-02-2009  Re: Under age Rollover to Roth IRA, how do I show ... hr(bob) hofmann@att.net 03-02-2009
Posted by hr(bob) hofmann@att.net on March 2, 2009, 1:03 am Please log in for more thread options 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. >> << ------------------------------------------------------- >> Posted by Phil Marti on March 2, 2009, 6:14 am Please log in for more thread options "hr(bob) wrote: > 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 -- << ------------------------------------------------------- >> << 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 hr(bob) hofmann@att.net on March 2, 2009, 11:45 pm Please log in for more thread options > "hr(bob) wrote: > > 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 Phil: 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. >> << ------------------------------------------------------- >> Similar Threads Posted Rollover of Roth 401k into Roth IRA February 11, 2008, 2:17 pm IRA rollover form from old trustee? March 13, 2009, 3:44 pm Direct Rollover 401(k) to Roth January 2, 2008, 1:28 am Can I Rollover ESOP to Roth IRA? April 20, 2008, 2:00 pm Are we missing form for rollover deposit? April 8, 2008, 12:52 am How are 457 to Roth IRA rollover taxes handled? February 6, 2008, 1:01 pm Which 1040 form to list HSA distribution? January 30, 2007, 12:09 pm 2006 Form 1040 returned May 31, 2007, 12:58 am Form 1040 mailing label change February 18, 2008, 7:09 pm Reporting Excess Roth IRA Contribution on 1040 January 23, 2009, 9:01 pm