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Author: marks1yum Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 294  
Subject: Please help - early distribution! Date: 11/10/2000 11:55 AM
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The people on the other boards said you guys are the experts! My husband and I had to cash out our conversion Roth's (please no lectures, believe me, it was unavoidable).
We converted in 12/98 ($9191) and took the 4 year spread, which means we have claimed $4595 as income so far. We made $1390 of contributions after the conversion, and the early distribution amount totaled $12675. I am figuring that we will owe about $3000 in taxes and penalties (we are in the 28% bracket).
I figure we have to claim the original $4595 left from the 4 year spread this year, as well as an additional $6690, (distribution amount minus post-conversion contributions and the $4595 already claimed. I don't know how they figure the 10% penalty though. Is it on the entire amount minus Roth contributions? Or is it only on the amount not already claimed as income?
I would sure appreciate some help!

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