Cositas1004
Feb 19, 2009, 05:14 AM
Hello.. I am a tax prof from Michigan.. Just doing my fatherinlaws taxes and he is a bit
Grim on remembering details.. What I would like to know is what was the rollover amount.. He claims it was 50,000.. I don't know..
This is what the 1099-R shows..
Box 1 Gross Dis - $74,377.30
Box 2a tax amount- $0
$0 federal tax
Total Distribution box checked..
Box 5 - Employee Contributions/Designated Roth IRA contri etc etc- $19,670.77
Distribution Code G
In the bottom it says Annuity Distrubtion.
Again. He rolled over what he thinks or estimates 50,000... he can't remember.. and he said the rest he took out.. claiming it was around 24,000 and then they taxed that..
So from what I just explained on the 1099-R.. Who can help me figure this out.. Was the taxed percentage 20%?
Thank you!
Thank YOU!
Grim on remembering details.. What I would like to know is what was the rollover amount.. He claims it was 50,000.. I don't know..
This is what the 1099-R shows..
Box 1 Gross Dis - $74,377.30
Box 2a tax amount- $0
$0 federal tax
Total Distribution box checked..
Box 5 - Employee Contributions/Designated Roth IRA contri etc etc- $19,670.77
Distribution Code G
In the bottom it says Annuity Distrubtion.
Again. He rolled over what he thinks or estimates 50,000... he can't remember.. and he said the rest he took out.. claiming it was around 24,000 and then they taxed that..
So from what I just explained on the 1099-R.. Who can help me figure this out.. Was the taxed percentage 20%?
Thank you!
Thank YOU!