@pistolpetervern wrote:
I accidentally rolled over my Roth 401k into a different institutions Traditional IRA in the Summer of 2020. How do I go about fixing this to avoid paying taxes on my money twice?
You have real problem now. While you can convert a Traditional IRA to a Roth it is not permitted to convert a Roth to a Traditional IRA. That would be a excess contribution in the Traditional IRA. Unfortunately the ability to get a tax free "return of contribution" for a 2020 transaction expired Oct 15, 2021. It still must be removed, but only with a normal distribution.
If the movement of funds was a direct trustee-to-trustee transfer between the two custodians then they never should have allowed it to tale place. You might have a cause of action against one of both custodians if this was their error.
If you just take the money out yourself at this late date, it will be fully taxable.
I suggest that you seek professional help from a tax professional in your area or tax attorney that specializes in retirement accounts.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
