state income taxes - How to handle rolled over retirement accounts?

-You don't pay taxes on this.

-You asked how was I ripped off: They told us during the interview that we get paid at least $100 a day in cash for 10 hours of work. More $ if we make sales (as comission). Please note, I got to work by 8am and left at 11pm, but somehow that's "10 hours of work". ... 13 by my count.

I made 3 sales, and there was 1 pre-booked sale. That means I worked on 4 lawns. The rest of the time I was dragging this 60 lb machine around a neighbourhood, dropping off pamplets and asking strangers if they want their lawn aerated. Tough work. I hurt every part of my body, even got my hand cut.

I was expecting to get paid more than $100 because of commission. I get very upset when they only gave me $40. Do you see now why I have been ripped off? They paid me $4/hour for 10 hours of work. They gave me no breaks. They put me in several dangerous positions and their principles are atrocious.

You don't pay taxes on these at all. You shouldn't have a 1099R from the agency that your rolled it in to. You get a 1099R for withdrawing retirement funds. Rolling it over, should show on the 1099R by the code letter (G?). When you do your taxes, the preparer or the program will ask if any of the money was rolled over. NO TAX on money rolled from one IRA into another, and should NOT have been any withholding either.

Dear Mail: Look at the 1099-R and box 7 and if you see code "G" you are OK it is not taxable. Code G indicates the direct roll over and you did not get the money (it was transferred trustee to trustee). If you see any other code look at the IRS codes for box 7 on the 1099-R form. A 1099-R must be issued any time money is taken out of a retirement account.

This advice was prepared based on our understanding of the tax law in effect at the time it was written as it applies to the facts that you provided. Click on my profile to read more. Errol Quinn Enrolled Agent Master Tax Advisor

No you do not pay taxes on a rollover into an ira.