IRS now leaning toward one rollover over all IRA types
The new IRS interpretation of the rollover limitation takes effect Jan, 2015. While the final rules are yet to be published, the IRS is apparently now leaning toward limiting rollovers to one per 12 month period over ALL types. Let’s hope that Pub 590 is written to make the new rules abundantly clear to taxpayers:
http://www.ascensus.com/CompanySite/Utility/News/index.htm?NewsID=1776
Permalink Submitted by Bruce Steiner on Thu, 2014-07-17 02:43
Section 408(d)(3)(B) says no 60-day rollover if “at any time during the 1-year period … such individual received any other amount … from an individual retirement account …” That seems pretty clear.