60 day rule & new tax proposal

Submitted by Michael Porfido on Tue, 2013-08-13 19:49

Question one -Can a person take a distribution from one IRA and put the money back into another IRA within the 60 day rule and still avoid the taxation?

Question two- Is there a provision in the new tax proposal that will reduce someone’s social security benefit if they have a certain balance in an IRA account?

Thank you.



Submitted by Alan - IRA critic on Tue, 2013-08-13 20:58

  • 1) Yes, as long as this is not done more than once in a 12 month period.
  • 2) Most proposals never even get included in a tax bill, but I have never heard of such a proposal in the first place. Extremely unlikely, but probably not impossible.

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