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.
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.