Guest BigAl Posted January 16, 2003 Posted January 16, 2003 This passed year I was layed off, and received my severence as a rollover from the company pension plan to my new IRA. How do I report this rollover to the IRS? If it is on form 8606, is it a complicated matter? Thanks in advance.
jevd Posted January 16, 2003 Posted January 16, 2003 Without giving Tax-Advice, I'd check the 1040 instructions for line 16 on page 25 of the 2002 1040 instructions available at IRS.gov then go to forms & instructions. JEVD Making the complex understandable.
Guest BigAl Posted January 17, 2003 Posted January 17, 2003 Thanks jevd...line 16 does look like the only place necessary for reporting rollovers. One other small question. Line 16 is very small, what if you have more than one entry, such as a pension and a rollover or 2 rollovers....any sugestions?
jevd Posted January 17, 2003 Posted January 17, 2003 My understanding is if they are all of the same type, Qualified Plan etc you would aggregate the amounts and indicate the total amount taxable. If you have distributions from IRAs that were rolled over, you would look to the instructions for the previous line. I hope that helps. JVD JEVD Making the complex understandable.
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