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Author: TMFPMarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121061  
Subject: Re: Roth IRA overcontribution Date: 3/11/2006 7:22 PM
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I withdrew last year prior to April 15th, paid the 10% penalty on the earnings and regular interest/dividend tax on those earnings.

Now this year I got a Form 1099-R for the distribution.

I'm just ignoring it, because I handled last year. Is this setting me up for an audit. Any explanation I should attach to the return?


Take a look at the code in box 7 and the back of Copy C, home of Uncle Sugar's Magic Box 7 Decoder. You should find that the box 7 code says it's 2004 income, thus no entry on your 2005 return is required.

Phil
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