TIRA distribution to Roth IRA

Submitted by Robert Wright on Sat, 2016-11-05 11:49

Can I take a TIRA distribution that was paid directly to me (i.e. this was not a custodian to custodian transfer), deposit this distribution into my checking account, and then write a check for 100% of the amount of the distribution to deposit into my Roth IRA?

Is this a Roth conversion or an IRA rollover?

Could I do this more than once per year (either calendar year or a 365 day year)?

Thanks.

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Permalink Submitted by Alan - IRA critic on Sat, 2016-11-05 17:28

You can do this as many times as you wish. A Roth conversion does not count with respect to the one rollover per 12 months limit. A conversion is a two part transaction, both a distribution and a rollover whether it is done by 60 day rollover or by direct trustee transfer. But they are exempt from the one rollover limit.