RMD – took more than RMD – can rollover excess to rollover IRA?
RMD for a client was $24,000 in 2014 (rounding number for discussion). On RMD form, the “Net” box was checked instead of “Gross” so the processed a RMD for $31,000. Can we rollover the “excess amount not required” (i.e. roll back so to speak) (within the 60 day period?
Permalink Submitted by Alan - IRA critic on Thu, 2015-02-19 00:48
Yes, but that will use up the one rollover per 12 month period for this IRA account, but should not count against the new aggregate rollover limitations starting this year.