Esop

Collapse
X
Collapse
 
  • Page of 1
  • Time
  • Show
Clear All
new posts
Previous template Next
  • photoman
    Senior Member
    • Jan 2010
    • 162
    #1

    Esop

    I have a client that received 18000 from an esop and the TP received a 1099r that Shows part taxed and part not. Within 60 days of touching the money she put the entire amount she received from the ESOP into an IRA. The IRA statement shows the money as a Rollover.
    I intend to take the entire 18000 and treat it as a rollover. Anyone have any comments on this.
    Tags: None
    • Burke
      Senior Member
      • Jan 2008
      • 7068
      #2
      The non-taxable part should not be rolled over into an IRA. When it is withdrawn, she would be paying tax on the non-taxable part again.

        Comment

        • photoman
          Senior Member
          • Jan 2010
          • 162
          #3
          The TP did this last august before talking to me.

            Comment

            • Burke
              Senior Member
              • Jan 2008
              • 7068
              #4
              Well, get out the ole' 8606.

                Comment

                Previous template Next

                Disclaimer

                Collapse

                This message board allows participants to freely exchange ideas and opinions on areas concerning taxes. The comments posted are the opinions of participants and not that of Tax Materials, Inc. We make no claim as to the accuracy of the information and will not be held liable for any damages caused by using such information. Tax Materials, Inc. reserves the right to delete or modify inappropriate postings.

                Working...