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Hi fools,
In 2001 I removed my IRA money from one mutual fund and put it into a fidelity account within the required 60 days for rollover accounts. IN January I received a 1099 from the company my orginal IRA was in.

Would someone please tell me how I am to report this rollover on my present 1040 tax forms so I don't have to pay any taxes on it? I just can't seem to find difinative information on this topic.
Thanks a bunch FELLOW FOOLS.
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Lines 16a and 16b of the 1040. The amount on line 16a is the total amount of the rollover. Line 16b is the taxable amount. The full amount was transferred with the required time therefore the taxable amount would be zero.

A 1040 is required. Rollovers can not be reported on 1040A or 1040EZ.

Debra
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In 2001 I removed my IRA money from one mutual fund and put it into a fidelity account within the required 60 days for rollover accounts. IN January I received a 1099 from the company my orginal IRA was in.

Would someone please tell me how I am to report this rollover on my present 1040 tax forms so I don't have to pay any taxes on it?


Report it on line 15 (not 16, as previously stated) of Form 1040. See the instructions for the notation.

Phil Marti
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Phil Marti,

Thank you for the correction.

Debra
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Thanks Phil and Debra.
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