Turn on suggestions
Auto-suggest helps you quickly narrow down your search results by suggesting possible matches as you type.
Showing results for
Connect with and learn from others in the QuickBooks Community.
Join nowYour $2k is Required Withholding. You will get 1099-R from the entity making the withdrawal, and a 5498 from the entity getting the deposit. The Feds have your $2k until you prove the right to claim it.
You want to read about it here:
https://www.irs.gov/forms-pubs/about-publication-590-b
Do your own research, if you intend to take these risks.