60 day rollover
Can you transfer funds via direct trustee to trustee transfer from a 401 k plan to an IRA to offset a previos withdrawal and have it qualify for the 60 day rollover rule?
Can you transfer funds via direct trustee to trustee transfer from a 401 k plan to an IRA to offset a previos withdrawal and have it qualify for the 60 day rollover rule?
Permalink Submitted by Alan - IRA critic on Thu, 2014-01-23 04:10
Not if I understand the question correctly. If an IRA distribution was taken that was not rolled over in time, a direct rollover to the IRA from the 401k cannot prevent the IRA distribution from being taxable.