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Old 03-27-2014, 12:33 PM
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Need assistance - Roth/Traditional rollovers

I did two 60 day Direct rollovers form institution “A” to institution “B” One (1) Roth and One (1) Traditional in 2013 within the 60 day timeframe. Unfortunately, I inadvertently swapped the amounts and put the larger amount in the Roth (25K) which should have gone to the Traditional and the smaller into the Traditional IRA (15K) which should have gone to the Roth.

This was a direct rollover done in March 2013. The institution will not correct the issue due to it not being their fault. This gives me a 10K overage in the Roth and 10K deficiency in the Traditional IRA. What options do I have. Publication 590 does not seem to address my stupidity. Can the excess be removed from the Roth and the 10K that should have gone into the Traditional be declared as income since it wasn’t rolled over in the 60 day window? Publication 590 addresses the 60 day rollovers but not “direct rollovers”.
Any suggestions would be appreciated. Thank you,



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