60-Day IRA Rollover
T-IRA owner did a 60-day distribution/rollover.
Question:
The IRA custodian sent the owner 2nd check representing accumulated dividends. Would these funds be consider a 2nd 60-day distribution/rollover or considered part of the first distribution and eligible for rollover?
Thank you
Permalink Submitted by Alan - IRA critic on Fri, 2023-01-27 17:07
It would be a separate distribution if made on a different day, and therefore not eligible for rollover unless it was converted to a Roth IRA. Obviously, a direct transfer should have been used to move the funds, and if so there would probably have been an automatic second transfer of the dividends.