IRA Conversation
I ask my Brokerage firm to convert a partial conversion, accidentally, they convert the entire account. I found this mistake within 24 hours.
But the Brokerage firm is telling me that, once it is converted, there is no way to take corrective action.
Does anyone know any IRS interpretation about it?
Sumit Ghosh
Permalink Submitted by Alan - IRA critic on Fri, 2022-03-18 20:25
If you have documentation that the brokerage did not follow your instructions, you have legal recourse against the brokerage, and the brokerage has certain authority to correct their error. Otherwise, there is no recourse via the IRS. In any case where the brokerage is not fully and clearly at fault, you have little chance to prevail legally.