Robert L. and Sara J. Helm - Page 4




                                        - 3 -                                         
               Collectively, petitioners realized $85,630.90 of conversion            
          income in 1998.  Pursuant to section 408A(d)(3)(A)(iii),                    
          petitioners elected to report the conversion income on a 4-year             
          ratable basis for a total annual amount of $21,407.73 beginning             
          in 1998 through 2001.                                                       
               B.  Petitioners’ Social Security Benefits                              
               Petitioners received the following Social Security benefits            
          during the years in issue:                                                  
                                                 1998            1999                 
               Petitioner Robert L. Helm        $2,277         $9,228                 
               Petitioner Sara J. Helm          6,561          6,654                  
               Total                            8,838          15,882                 
               C.  Petitioners’ Forms 1040                                            
               For each of the 1998 and 1999 tax years, petitioners timely            
          filed a joint Form 1040, U.S. Individual Income Tax Return.  On             
          both returns, petitioners listed their occupation as retired.               
          Each petitioner attached a Form 8606, Nondeductible IRAs, to                
          their 1998 return reporting their respective amount of conversion           
          income and electing to ratably report such income over a 4-year             
          period.                                                                     
               Petitioners reported the following income items on their               
          returns for the years in issue:                                             












Page:  Previous  1  2  3  4  5  6  7  8  9  10  11  12  Next

Last modified: May 25, 2011