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    rom314's Avatar
    rom314 Posts: 2, Reputation: 1
    New Member
    		  
    #1

    Mar 3, 2010, 02:20 PM
    I received a 1099 Q,
    I received a 1099Q, in Gross Distribution are $14,852.03,earnings $ -4,547.97, basis $19,400.00, what form of taxes do I need to declare this form?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #2

    Apr 26, 2010, 02:30 PM
    None of it is taxable, because the basis ($19,400) is greater than the Gross Distribution ($14,852).

    If the situation was reversed (basis of $14,852 and Gross Distribution of $19,400), the earnings WOULD be taxable and reported on Line #21 of Form 1040.
    Monkeyz's Avatar
    Monkeyz Posts: 1, Reputation: 1
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    #3

    Feb 12, 2013, 07:22 PM
    I got a 1099-Q showing amounts for gross distribution(1),earnings (2),basis (3),trustee-to trustee(4) ,state(5)
    *I did a 100% rollover to another instituition*

    What part of this forms information if any do I have to report to IRS when doing my taxes?

    Thank you
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
    Senior Tax Expert
    		  
    #4

    Feb 12, 2013, 08:23 PM
    Theoretically, the rollover is reported, but I would have to see the Form 1099-Q to be sure.
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