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In June of 99 I quit my full time job to be a full time mom...I rolled over my meager 401K $$ into an IRA..does this have to be disclosed somehow on our tax return?

Yes ...

Is it taxable in anyway? The money was completely "hands-off"...directly rolled over.

There should be no taxes due, as you described your case. I did a similar transfer in 1998; here's how it worked out for me.

I received a check for the after tax distributions, and transfered the remainder into
a new IRA.

I received two 1099R's: one for the after-tax amount, and one for the remainder.
The 1099R for the after-tax balance had distribution code "2": "Early distribution
exception applies (under age 59 1/2)(You do not need to file Form 5329)." The
1099R for the remainder had distribution code "G": "Direct rollover to IRA (You do
not need to file Form 5329)."

Both 1099R's said "Taxable amount 0.00", which was a "good thing."

When I prepared my Form 1040 for 1998, the amount from the "G" 1099-R was
reported on Line 16a, Total pensions & annuities; line 16b, Taxable amount, was

Following the instructions of Kiplinger TaxCut, I wrote "rollover" in the margin to the
left of line 16.

If you use tax preparation software -- either TaxCut or TurboTax -- this should be a piece of cake.

Another note -- by June 1, 2000, the administrator for the "target" IRA should send
you a Form 5498: 1999 IRA Contribution Information, with an annotation that
the information "is being furnished to the Internal Revenue Service."

Hope this helps!
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