Search found 13 matches

by emh
Thu Apr 19, 2018 10:52 am
Forum: Personal Finance (Not Investing)
Topic: early withdraw of Roth IRA - Tax form questions
Replies: 8
Views: 607

Re: early withdraw of Roth IRA - Tax form questions

If your only Roth contribution was the conversion, and you never made a regular Roth contribution, then you have nothing to enter on line 22 of Form 8606. On line 24 enter the total amount you converted to your Roth IRA. Perhaps there was just the one. Of course, you will enter your distribution on...
by emh
Tue Apr 17, 2018 8:18 am
Forum: Personal Finance (Not Investing)
Topic: early withdraw of Roth IRA - Tax form questions
Replies: 8
Views: 607

Re: early withdraw of Roth IRA - Tax form questions

If your only Roth contribution was the conversion, and you never made a regular Roth contribution, then you have nothing to enter on line 22 of Form 8606. On line 24 enter the total amount you converted to your Roth IRA. Perhaps there was just the one. Of course, you will enter your distribution on...
by emh
Mon Apr 16, 2018 6:51 pm
Forum: Personal Finance (Not Investing)
Topic: early withdraw of Roth IRA - Tax form questions
Replies: 8
Views: 607

Re: early withdraw of Roth IRA - Tax form questions

You need to fill out Part III of Form 8606, using the worksheet you'll find in the instructions. I don't see why you would need the other form. Thanks, but I'm a bit confused about how to fill out Part III. It seems that I need to calculate the "basis". But when I look at the instructions (page 12)...
by emh
Mon Apr 16, 2018 6:43 pm
Forum: Personal Finance (Not Investing)
Topic: early withdraw of Roth IRA - Tax form questions
Replies: 8
Views: 607

Re: early withdraw of Roth IRA - Tax form questions

I have no direct knowledge but I did some research and this link seems to provide an answer to your question. https://pocketsense.com/report-ira-distribution-tax-return-5882280.html Cheers Thanks was looking at that iink earlier today but my brain was too fried to make sense of it. I'll take a look...
by emh
Mon Apr 16, 2018 4:00 pm
Forum: Personal Finance (Not Investing)
Topic: early withdraw of Roth IRA - Tax form questions
Replies: 8
Views: 607

early withdraw of Roth IRA - Tax form questions

Hi - I'm really hoping someone can help me. Last year, I withdrew money from my Roth IRA (I'm 49 years old). The money in my Roth IRA was originally in a traditional IRA but I converted it over into a Roth IRA. The money that I withdrew comes from the conversion (not from any earnings) and has been ...
by emh
Sat Feb 09, 2013 9:07 am
Forum: Personal Finance (Not Investing)
Topic: question re: my 1099-B form from Vanguard
Replies: 3
Views: 1060

Re: question re: my 1099-B form from Vanguard

For the sales that don't have acquisition dates, perhaps the shares sold were acquired on different dates in which case you'd need to use "VARIOUS" when you enter those transactions on schedule D or form 8949. This could be the case if you made periodic purchases or reinvested distributions to give...
by emh
Fri Feb 08, 2013 1:53 pm
Forum: Personal Finance (Not Investing)
Topic: question re: my 1099-B form from Vanguard
Replies: 3
Views: 1060

question re: my 1099-B form from Vanguard

I'm hoping someone here can help me out with a question about my 1099-B form from Vanguard. I just got off the phone with Vanguard and they were unable to answer my question even though they're the ones who sent me the form. And it seemed like a fairly straightforward question. So here goes. I have ...
by emh
Fri Oct 21, 2011 1:46 pm
Forum: Investing - Help with Personal Investments
Topic: ROTH IRA conversion question
Replies: 10
Views: 559

Re: ROTH IRA conversion question

Great, thanks for the additional information!

And now that I think about it, I have one more questions: I have about $20,000 in capital loss carryover. Can I use that as well to pull more money out of my traditional IRA and into a Roth IRA without paying taxes?
by emh
Fri Oct 21, 2011 12:59 pm
Forum: Investing - Help with Personal Investments
Topic: ROTH IRA conversion question
Replies: 10
Views: 559

Re: ROTH IRA conversion question

Thanks Alan S. Pardon my ignorance, but how would I know if I have "basis in my TIRA from non deductible contributions?
by emh
Fri Oct 21, 2011 12:24 pm
Forum: Investing - Help with Personal Investments
Topic: ROTH IRA conversion question
Replies: 10
Views: 559

Re: ROTH IRA conversion question

Great, thanks for the information! Does the conversion have to be completed by December 31st? Or is there some leeway on the date?
by emh
Fri Oct 21, 2011 11:37 am
Forum: Investing - Help with Personal Investments
Topic: ROTH IRA conversion question
Replies: 10
Views: 559

ROTH IRA conversion question

Here's my situation. I will have essentially zero income in 2011. My only income will be from dividends and capital gains from my investments. I'm expecting those to be less than $3,000. My retirement is in a regular IRA with vanguard. If I understand how this works, this year would be a good time t...
by emh
Sun Dec 12, 2010 5:13 pm
Forum: Investing - Theory, News & General
Topic: Selling a dividend
Replies: 4
Views: 926

Thanks for the responses! To answer some of the questions...

1) My capital gains position is that I have HUGE capital loses this year.

2) Reason for doing this is to make some changes to my asset allocation. No plans on rebuying the fund in question.
by emh
Sun Dec 12, 2010 9:20 am
Forum: Investing - Theory, News & General
Topic: Selling a dividend
Replies: 4
Views: 926

Selling a dividend

This is probably a strange question but I'm going to ask it anyway. I know all about the cons associated with "buying a dividend". But what about the opposite - selling a fund shortly before a dividend distribution? Is this good, bad, indifferent or does it depend on the particular circumstances? (b...