60 day rollover
A taxpayer age 64 has taken a taxable distribution from her TIRA in Jan ’25. Does this preclude her from taking a separate distribution from her TIRA later this calendar year and returning that separate distribution to her TIRA within 60 days of taking it, without incurring taxes?
Permalink Submitted by Alan - IRA critic on Thu, 2025-02-27 16:14
A 60 day IRA rollover can only be done once over a 12 month period. Distributions like the current distribution that are not being rolled over do not affect this. But if any part of the current distribution was rolled over the taxpayer could not do another one later this year.
Roth conversions do not count and neither do IRA rollovers to a qualified plan.