The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  http://boards.fool.com/i-converted-my-ira-rollover-to-a-roth-rollover-10758649.aspx

Subject:  Re: Unwinding a Roth Date:  4/11/1999  11:21 PM
Author:  TMFTaxes Number:  14418 of 120806

[[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
this matter?]]

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.

TMF Taxes
Roy
Copyright 1996-2014 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us