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I have several traditional IRAs. Being 71 1/2, I figured my required minimum distribution before April 1, 2012 was about $6,500. To be on the safe side I withdrew $6,700. Which form & line(s) should I use to report the $6,700?


ANSWER


The BIDaWIZ Team's Answer:

You will receive a form 1099-R from your custodian detailing the withdrawal from your traditional IRA. You need to report that amount on Line 15B of your form 1040.

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