Hi - I received a CP2000 from the IRS stating that I have "retirement income". This was $6K that was placed into a traditional IRA and then quickly moved to a Roth IRA. What do I need to send to the IRS to show that it was converted?
I did have an 8606 as part of my TurboTax filed return. It shows $6K in line 1 and $6K in line 2. I think the line 2 is incorrect as the traditional IRA does not have any balance. But then wouldn't TurboTax have calculated the tax impact (incorrectly)? Wondering why the IRS is showing that I need to pay more taxes. (Over $2K more)
