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FBO IRA's

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SGT

Junior Member
What is the name of your state? CA

I received 1099's in 2004 for 2 IRA's. One was in my name & the other was in an FBO account. 2004 was the 5th year since my father's death, so I had to take the funds from each. I received a check for the non-FBO IRA earlier in the year. The FBO IRA was rolled-over into an IRA in my name alone. What are the tax implications of both IRA's & the fact that I received 1099's for each? Is it too late to roll-over the non-FBO IRA/ The funds were received in Oct'04.
 


Snipes5

Senior Member
Yes, it is too late to roll the funds from the cashed-out IRA.

You must include the information from the 1099's on your tax return.

Snipes
 

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