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Richard, Tax Attorney
Category: Tax
Satisfied Customers: 55599
Experience:  29 years of experience as a tax, real estate, and business attorney.
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Hello, In 2009 I took a $20,000.00 distribution from my IRA.

Resolved Question:

In 2009 I took a $20,000.00 distribution from my IRA. I replaced $16000.00 of it within 60 days. The IRS is seeing the distribution but not the contribution and is saying I owe 9600.00. How do I remedy this. I got a copy of form 5498 from my IRA saying I had a 16,000 rollover contribution. How should I go about remedying this?
Submitted: 6 years ago.
Category: Tax
Expert:  Richard replied 6 years ago.

Good morning. Simply send the IRS a response letter explaining what you did and including the Form 5498 indicating the rollover within the required time period. They will correct their error. It seems like they should catch this stuff, but it seems like this happens on almost every situation where the money is not directly rolled over. Based on your facts, you should get a response from the IRS within 30 days correcting their error.



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