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Author: BOGER Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: death benefit Date: 2/21/2000 9:34 AM
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okay, here goes....
I was the beneficiary of my father's annuity. (lump sum distribution). I am being taxed on $1800 per the 1099-R. I am using TaxCut to prepare my taxes. They say if I rollover some of this money into an IRA within 60 days, which I did do, I cut my taxes. IF you are familar with TaxCut, you know the amount owed or to be refunded appears in a little window in the top right. When I entered my Roth IRA info the window went from $2000 owed to the IRS to $632!!! This doesn't seem right. Because I rolled over into a Roth IRA, I am exempt from paying taxes on the lumpsum distribution from the annuity????

Any input is appreciated....THANKS!
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