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Old 06-18-2017, 08:39 PM
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401k Benificiary rollover to Roth IRA HELP!

The IRS is coming after me for money I do not have. Unfortunately it is most likely my own fault. I was young and naive and had no knowledge or experience. Sigh.... Several years ago my father passed away and I inherited his 401k plan. I rolled over his 401k into a Roth IRA in the amount of about $26,000. I took an early distribution of the full amount after just a couple months. I was younger than the age of 59 1/2 so I believe I am subject to a 10% penalty. I did not report this on my taxes and they are coming after me for money. The 401k was with John Hancock and the Roth IRA I rolled the funds into was with Merrill Lynch. Those two financial institutions reported a $26,000 distribution to the IRS. However I did not receive two separate distributions I only received one when I withdrew the money that I had rolled over. But the IRS is coming after me for money because I guess on their end it looks like I received two separate distribution but I didn't. Like I said I was young and naive and had no idea what I was doing and no one to help guide me. I assume this is because I obviously did not report it correctly or fill out documents in which I should have. I am confused on what I owe and why. Any help or information would be SO very helpful! Thanks.

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