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Financial Planning / Tax Strategies
|Subject: Re: Unwinding a Roth||Date: 4/11/1999 11:21 PM|
|Author: TMFTaxes||Number: 14418 of 121150|
[[I converted my IRA Rollover to a Roth Rollover in 1998. In November I
changed jobs. My severence pay pushed my AGI over the $100,000 limit and I
had to convert my Roth back to a traditional IRA Rollover.]]
Right you are...
[[ I have the
distribution forms from Ameritrade showing both distributions... one to the Roth
and another back to the IRA Rollover (all in 1998). However, in between, the
assets appreciated, so that the second distribution is for a higher amount. Does
Nope...show both distributions as non-taxable on line 15a and 15b on form 1040, and treat them as "rollovers". The instructions for this line on your tax return will help you.
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