When I was young, my mom opened a brokerage account for when I got older. About 10 years ago she gave it to me and everything was swell although I have no idea how to manage it so I left it alone. Two years ago a finance friend of mine told me to use Vanguard to open an IRA since I didn't have one. I decided to consolidate my money and move everything to Vanguard, so I closed out my account which was about $40k. I put $5k into the IRA to max out the contributions and the rest into a new brokerage account in Vanguard. Apparently I did my taxes wrong and now the IRS thinks I owe them about $14k in back taxes. Looking at my filed 1040, I reported the money going in to Vanguard (both the IRA and the new brokerage account) but I did not report the money leaving the old account because I honestly had no idea that I was supposed to. Each and every attempt in the last two days I cannot get a hold of anyone at the IRS to talk about this. Is there a number I can call? Any advice would be appreciated.
Submitted December 08, 2020 at 09:03PM by WestCoastReese https://ift.tt/3qEBB4t
