MargaretMort Posted March 25, 2011 Report Posted March 25, 2011 I have been going through the pages and pages of paperwork left by the client who claimed the roll-over of a traditional IRA to a Roth in 2009. In 2010 they received the 1099-R showing the disbursement of the IRA which actually rolled over in April 2010. As far as I can determine, they each opened a Roth in 2009 and contributed money to it. The traditional IRA rolled into the Roth in 2010. SO--I need to tell them to do a 1040-X for 2009, taking out the roll-over information and properly reporting it on the 2010 return. Then they can pay the taxes owed on their 2011 and 2012 returns--or they can pay the entire amount with their 2010 return. I think I have this right. Any other suggestions? Thanks. MM Quote
MargaretMort Posted March 25, 2011 Author Report Posted March 25, 2011 My sincere thanks. I feel that I have beaten this thing to death and will be very happy when I can explain to them what has to be done. MM Quote
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