Gots a question to throw out..should be easy just need some confirmation
Got a letter from the IRS saying I owe them $'s.
I transferred an IRA in December of 2017 to another IRA in Jan 2018. Well within the 60 day period. (14 days to be exact)
Problem is, Fidelity didn't report the transfer until I got my 2018 5498. But the bank I cashed out the IRA from accurately reported my distribution in 2017.
So the IRS doesn't have a 5498 for 2017 showing the transfer. They have a 2018 one that either they haven't reviewed or put 1+1 together and obviously are unaware of the actual dates.
Of course I have all the supporting documentation but I just wanted some advice on how to best deal with them? [Reply]
Originally Posted by Hog's Gone Fishin:
I know lots of numbers Pete . whatcha got??
Guess I should have put the question in the OP, heh?
I will do that but since I am here....
Got a letter from the IRS saying I owe them $'s.
I transferred an IRA in December of 2017 to another IRA in Jan 2018. Well within the 60 day period.
Problem is, Fidelity didn't report the transfer until I got my 2018 5498. But the bank I cashed out the IRA from accurately reported my distribution in 2017.
So the IRS doesn't have a 5498 for 2017 showing the transfer. They obviously are unaware of the actual dates.
Of course I have all the supporting documentation but I just wanted some advice on how to best deal with them? [Reply]
Originally Posted by petegz28:
Guess I should have put the question in the OP, heh?
I will do that but since I am here....
Got a letter from the IRS saying I owe them $'s.
I transferred an IRA in December of 2017 to another IRA in Jan 2018. Well within the 60 day period.
Problem is, Fidelity didn't report the transfer until I got my 2018 5498. But the bank I cashed out the IRA from accurately reported my distribution in 2017.
So the IRS doesn't have a 5498 for 2017 showing the transfer. They obviously are unaware of the actual dates.
Of course I have all the supporting documentation but I just wanted some advice on how to best deal with them?
Do what I do. Ignore them and take your boat to the middle of the lake. They can't do shit to you there. [Reply]
Something similar happened to me. I performed a direct rollover from one retirement to another retirement account. Like you, my distributing brokerage issued a report to the IRS but the receiving brokerage did not. I got a similar letter from the IRS.
I copied correspondence I received from the brokerage confirming receipt of the funds and my brokerage statement for that time period confirming an exact dollar match from the distributing account. I summarized this activity in a nice cover letter and mailed everything to the IRS.
Within 45 days I received a letter from the IRS stating everything was cool. Big relief. [Reply]
Originally Posted by Icon:
Something similar happened to me. I performed a direct rollover from one retirement to another retirement account. Like you, my distributing brokerage issued a report to the IRS but the receiving brokerage did not. I got a similar letter from the IRS.
I copied correspondence I received from the brokerage confirming receipt of the funds and my brokerage statement for that time period confirming an exact dollar match from the distributing account. I summarized this activity in a nice cover letter and mailed everything to the IRS.
Within 45 days I received a letter from the IRS stating everything was cool. Big relief.
Originally Posted by Hog's Gone Fishin:
Or wait until they call you and just tell them you're sick and tired of these fucking scam calls. Don't call me anymore.
If all else fails, just scream into the phone while you stroke your cock to assert dominance. [Reply]