Author Topic: 401k Rollover Mistake  (Read 1121 times)


  • 5 O'Clock Shadow
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401k Rollover Mistake
« on: January 30, 2015, 08:33:54 PM »
Hey everyone,

Before I get an accountant involved, I wanted to run this question by the braintrust here:

My wife left a job in 2014, and had about $20k in her 401(k) there.  After leaving, we requested that the funds be rolled over to a Traditional IRA - nothing crazy there.

Unfortunately, we goofed and gave the account number for our Roth IRA instead of the Traditional IRA.  We quickly contacted Fidelity to let them know our mistake - they weren't able to put a stop on the transfer, but they moved the money from the Roth to the Traditional after one or two days.

We recently got (2) 1099R's - one from US Bank (401k company), and one from Fidelity (IRA company).  My issue is that the US Bank 1099R shows the entire value of the transfer as "taxable", because as far as they know, it went to a Roth IRA.  When I punch this into my tax software, it ends up with me owing several thousand dollars.

Any ideas as to how I could submit this correctly without basically guaranteeing that I get audited?