IRA Rules

Posts Tagged ‘retirement’

Question: Withdrawal of excess contributions to IRA – which form?

I contributed too much to my Roth IRA for 2007.. I withdrew the excess last week. What form do I use to report the capital gain, Sch D or something else?

Answer: It isn’t a capital gain. The earnings go on line 21 as “other income”–you also need form 5329 to figure the penalty.

Jean Goblet Testimonial For John Park and PGI SelfDirected

Retirement Plan: When to Spend Your Roth IRA, 401(k) & other Savings

“401k To IRA Rollovers” Mauricio Garcia Chicago Area Specialist