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Retirement tax questions
You may need to speak to a professional accountant in your area. If you had taken a normal distribution, put the money in your checking account, withdrawn it all as cash in a duffel bag, and then the cash was stolen, or lost down a storm drain, or set on fire, you would still owe income tax on the distribution. If the money was rolled over from plan A to plan B, but it stayed in a cash account with plan B instead of being invested in stocks or metals, and then the owner of plan B stole the money from the account, then it is a rollover. There's no deduction for the theft, but no tax is owed on the rollover.
You really need to figure out the details of what happened, and you may need professional assistance.
‎November 7, 2024
9:42 AM