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Rollover IRA & Roth IRA
In March of 2021 I rolled over an old employer IRA Company 1 with $5000 in Reg IRA and $10,000 in Roth IRA. These were supposed to go into matching accounts in a new Fund Company. The new Fund company switched the amounts and put the $5000 into the Roth and the $10,000 into the Reg IRA. This was found out when I received the 1099R from Company 1. Any advice what we need to report this year and how to correct it later? What will be the tax penalty if any?
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March 21, 2022
8:25 PM