IRA ROLLOVER TO SEP IRA
(Note: My first RMD) On 3-30-2020 I took the balance of my 2019 RMD of $7,404.86 from my traditional IRA CD account. Since then I have learned I can actually rollover that same amount by Aug. 31,2020 to a new IRA avoiding the tax on my 2020 return. Secondly I need to open a new SEP IRA by my extended date of Oct 15, 2020 of $9,658.00. Question is can I rollover the $7,404.86 into the new SEP IRA adding $2,253.14 to it to obtain the SEP IRA amount I need of $9,658.00.
Permalink Submitted by Alan - IRA critic on Tue, 2020-06-30 23:02
Please do not keep posting duplicate topics. Have already replied to two of these posts.