Message Font: Serif | Sans-Serif
UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next
Author: CarHasAnts Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121223  
Subject: Re: Multiple rollover problems and 1099-R Date: 3/27/2008 9:00 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 0
The accounts were titled just plain "Carl", but there are some obscure product type / codes which I think means IRA or Roth IRA. I will verify this.

Yes, there was only one set totaling 30k.

Tracing one of the Traditional IRA accounts money path, from the bank's records: (???? Indicates that I am unsure about the information, or I will obtain it).

DATE = ????
Close Account #????????
Traditional IRA from DaisyInsurance
Issued check = $15000 ????

Open Acct # 123456, Deposit $15000
IRA money market
Check from DaisyInsurance

Close Acct # 123456
Early distribution, $15001
Where did the money go?????

It looks like a problem to me right now because the first transaction was a check issuance, (is it automatically considered a distribution? even though it probably is within 60 days?)

and then the bank recorded a second early distribution.
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (14) | Ignore Thread Prev | Next


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
Pencils of Promise - Back to School Drive
"Pencils of Promise works with communities across the globe to build schools and create programs that provide education opportunities for children."
Managing Your Wealth
Our own TMFHockeypop from Rule Your Retirement fame on the TV show Managing Your Wealth.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Should You Be an Index Investor?
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.