My previous employer really botched my retirement plan last year. Im wondering if I should have my taxes professionally done this year because of some of the results of the rollover. 1st, employer decided to switch to a 401k in march 07 and we were told that the irs does not allow 2 retirement plans in same year so we had to call the simple IRA and cash out any deposits made in 07. The check I received I was told to keep by my employer. Once that was done I was supposed call the simple IRA people and request my funds be sold and issue a direct rollover to 401k people. This was a lengthy process because since we stopped contributing to IRA regularly they moved the account to a national account handler. Finally after the sale, I received a statement showing my sale order and was charged almost 1,000 dollars in Contingent Deffered Sales Charges that I was not advised about when I made the order to sell. At tax time I received a 1099R from Simple IRA people coded as an early distribution instead of excess contribution and now have to pay penalty and IRA people will not correct 1099R. My questions are
1. Is that the correct coding for my 1099r.? do I need to get my 1099R corrected or forget about it?
2. can I deduct the Contigent Deffered Sales Charges on my taxes somewhere as a loss?
3 do I need proffesional help, at least with my taxes, Im living with my personality disorders… 🙂