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Financial Planning / Tax Strategies
|Subject: Re: Multiple rollover problems and 1099-R||Date: 3/27/2008 9:00 PM|
|Author: CarHasAnts||Number: 99806 of 121217|
The accounts were titled just plain "Carl", but there are some obscure product type / codes which I think means IRA or Roth IRA. I will verify this.
Yes, there was only one set totaling 30k.
Tracing one of the Traditional IRA accounts money path, from the bank's records: (???? Indicates that I am unsure about the information, or I will obtain it).
DATE = ????
Close Account #????????
Traditional IRA from DaisyInsurance
Issued check = $15000 ????
Open Acct # 123456, Deposit $15000
IRA money market
Check from DaisyInsurance
Close Acct # 123456
Early distribution, $15001
Where did the money go?????
It looks like a problem to me right now because the first transaction was a check issuance, (is it automatically considered a distribution? even though it probably is within 60 days?)
and then the bank recorded a second early distribution.
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