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Strategies & Market Trends : Roth IRA ideas
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To: Mitch Aunger who wrote (42)4/21/1998 3:06:00 AM
From: Steve Joyce  Read Replies (1) of 388
 
Just thought I would offer a little useless information.

With any IRA the only time 1099 forms are produced is when a distribution is made from the IRA, whether premature or normal.
1099 DIV forms will only be produced if someone is on crack and
does not reinvest dividends etc.

The conversion amount from TIRA to a Roth will not count on AGI for the 100K limit for conversion.....in other words if you know that you will make 85K in income this year and have a 80k TIRA the 20K added to your 1998 income for tax purposes will not push you over the 100k limit....however it can push you into a higher tax bracket.

As far as 1998 tax forms for the Roth Conversions the IRS has not generated the 1040's for next year therefore the speculation is that the 1/4 conversion amount added to your annual income will be similar to "other income" but no one is really sure.

Hope this is a little bit useful...if not I apologize in advance.

SJJ
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