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Author: donri Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121106  
Subject: MRD with Rollover Date: 8/29/2001 2:08 PM
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Hi Tax Strategy Fools. I have a qualified IRA in an annuity.
I turned 70, May 2001. I am taking funds out of this annuity
over a 5 year plan to avoid a penalty for early withdrawal from
their 7 year plan.
I have received the lst distribution July 9, deposited it in my
checking account. I kept an amount, which exceeded the MRD, and transferred the balance to another Company under a 5 year plan.
My question is: How do I show this activity on my 1040, to show
the IRS what I am doing?
Thanks for the help!! Don Richards
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Author: pmarti Big funky green star, 20000 posts Home Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: 53664 of 121106
Subject: Re: MRD with Rollover Date: 8/29/2001 2:47 PM
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I have received the lst distribution July 9, deposited it in my
checking account. I kept an amount, which exceeded the MRD, and transferred the balance to another Company under a 5 year plan. My question is: How do I show this activity on my 1040, to show
the IRS what I am doing?


This sounds like a brushoff, but it actually will make your life easier. Make sure you have a record of what you did, take two cocktails, and call us in February after you've received your 1099('s). Your reporting will depend on the annuity company's reporting.

Phil Marti
VITA Volunteer


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