| 1040-Individual Single Return |
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nemoryer
Full Member
Cash: $ 13.35
Posts: 57
Joined: 11 Apr 2009
Location: wa
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| 1040-Individual Single Return |
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I file taxes every year although my SS income is less than $15,000 due to the fact that I make small withdrawals from my 401(k).
I am 62 years old, filing single, no dependents.
Line 21 of my 1040 (Adjusted Gross Income) shows the total amount of the amount withdrawn. SS income does not show on the 1040.
In 2010 (present year), I received a $5,000 profit sharing income from a former employer which I directly rolled-over into my Rollover 401(k).
Will that amount be considered income when I file in 2011 and be added to whatever amount I withdrew from the 401(k) in 2010 as ordinary withdrawal (Line 21)?
Thank you.
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Fri May 28, 2010 3:05 pm |
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nemoryer
Full Member
Cash: $ 13.35
Posts: 57
Joined: 11 Apr 2009
Location: wa
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Thank you so much for the quick and kind reply.
Yes, I was hoping for that answer!
The check was made out to Fidelity and sent to me by the Administrator to deposit myself. I immediately deposited the check at Fidelity within 2 days of receiving the check.
Thank you for putting my mind at ease. Happy Holiday.
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Fri May 28, 2010 3:58 pm |
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floyd
New Poster
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Joined: 20 Oct 2016
Location: facebook
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| taxes |
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pensions are they to be taxed ?
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Thu Oct 20, 2016 8:51 pm |
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ken-do-nim
Full Member
Cash: $ 16.50
Posts: 81
Joined: 08 Sep 2016
Location: Mansfield, MA
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(I didn't know you could draw Social Security as early as age 62. Learn something new every day!)
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Fri Oct 21, 2016 2:10 pm |
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