60-day rollover (new rules)

Submitted by ShipsnGiggles on Thu, 2014-07-17 15:21

Good Morning

Question that requires clarification-

Due to recent IRS guidance changing their stance on 60-day rollovers – the following question has come up on multiple occasions.

Question:
Are two 60-rollovers permitted in a 365 period assuming an individual has both a T-IRA and Roth IRA. Or are all Traditional and Roth IRA’s consider a single 60-day rollover (per 365?

Thank you!



Submitted by Alan - IRA critic on Thu, 2014-07-17 15:26

It appears the IRS is heading toward combining all IRA types with respect to the one rollover limit. See here: https://irahelp.com/forum-post/22419-irs-now-leaning-toward-one-rollover-over-all-ira-types



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