Indirect Rollovers

Person has traditional IRA and 457 both of which are being distributed to assemble money for home purchase. Within 60 days there would be the option to get some or all of this money back into a new IRA correct since the once per year rule only applies to IRAs and this would be one of 2 different types of plans?



That is correct. If all of the money cannot be rolled over, roll over the 457 money first since the first home penalty exception (up to 10k  lifetime) only applies to IRA distributions. Not clear whether this purchase qualifies for the first home exception however.

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