1

I got an IRS letter that states my return does not match the records they have from others. In particular, it shows I reported $0 but they were reported a non-zero amount for taxable retirement income from a rollover IRA. However, in my case, this income is not taxable because I directly rolled it over to my new employer's 401(k). It is listed on my 1040 on line 15a of 2010 1040 with a left column note (put there by TurboTax) that states: "Rollover".

What has gone wrong? Is it that the target of the rollover did not report receiving the funds or that the sender did not properly report it was a direct rollover?

WilliamKF
  • 1,833
  • 4
  • 24
  • 34

1 Answers1

3

Talk to the TurboTax support. Generally, I've heard of several similar reports this year where people with 1099-R that had "G" marked properly got similar notices (direct rollover), and it appears to be a glitch in the IRS programming. If this is the case for you, then a simple response explaining that you reported correctly and attaching the copies of the appropriate forms would suffice.

littleadv
  • 190,863
  • 15
  • 314
  • 526