when rolling a pension fund into an IRA

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Subject Author Date when rolling a pension fund into an IRA Jane 03-09-2008  Re: when rolling a pension fund into an IRA Alan 03-09-2008
Posted by Jane on March 9, 2008, 4:27 pm Please log in for more thread options When I retired in 2002 the company had $13k in what they called their "Pension Accumulation Fund". All the money in the fund was put in by the company. When I retired I rolled it into a traditional IRA with Vanguard. I did my taxes with Turbo Tax for 2002. It entered the $13k as a non- taxable distribution on form 1040 but did not create a corresponding form 8606 indicating it was rolled over. Should it have? If yes, is there any need to since all the money will be taxable when I withdraw it? -- << ------------------------------------------------------- >> << 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 Alan on March 9, 2008, 5:40 pm Please log in for more thread options Jane wrote: > When I retired in 2002 the company had $13k in what they called their > "Pension Accumulation Fund". All the money in the fund was put in by > the company. When I retired I rolled it into a traditional IRA with > Vanguard. > > I did my taxes with Turbo Tax for 2002. It entered the $13k as a non- > taxable distribution on form 1040 but did not create a corresponding > form 8606 indicating it was rolled over. Should it have? If yes, is > there any need to since all the money will be taxable when I withdraw > it? > A Form 8606 only would have been required if you had a cost basis in the fund. As you did not have a cost basis, no 8606 should have been filed. -- << ------------------------------------------------------- >> << 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 Rolling IRA into Company Plan January 10, 2010, 1:51 pm Taxability of payment from a Qualified Settlement Fund (QSF) for mutual fund fraud April 28, 2007, 5:03 pm UK Old Age Pension January 18, 2010, 8:52 pm Pension withdrawal January 29, 2008, 7:58 am Foreign pension taxable in US? October 24, 2009, 7:58 am foreign pension to US. Tax implications? November 4, 2009, 6:52 am Social Security and foreign pension March 27, 2007, 1:21 am United Kingdom state pension December 27, 2007, 6:06 pm Defined benefit pension 415 limits June 6, 2006, 7:30 am Taxable part of pension, simplified method February 18, 2007, 9:51 pm