once per year rollover

Common Confusions with the Once-Per-Year Rollover Rule

Monday, October 23, 2023
The once-per-year IRA rollover rule sounds pretty easy to understand. You may only do one IRA-to-IRA (or Roth IRA-to-Roth IRA rollover) per year (365 days). However, this rule is often misunderstood.One common confusion about the once-per-year rollover rule is whether multiple distributions or multiple deposits will trip you up.
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QCD Reporting and the Once-Per-Year Rollover Rule: Today’s Slott Report Mailbag

Thursday, February 16, 2023
Question:Hi,Thank you for all the helpful insight on retirement. I wish I heard about your website earlier. I turned 72 last year and followed your advice on QCDs (qualified charitable distributions) but don't know how to claim it.My RMD (required minimum distribution) was $50k in 2022. I did a QCD of $10k and then withdrew $40k by the end of 2022. My taxable amount should be $40k and not $50k as listed on the 1099-R. How do I reflect that in my tax filing?Thank you for your assistance.
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Once-Per-Year Rollovers and RMDs for Inherited IRAs: Today’s Slott Report Mailbag

Thursday, November 10, 2022
Question:Good morning,I have a client who took out $100K from his SEP IRA and put the funds back in on 8/19/22 -- within 60 days from the distribution. The client has now called me and asked if he can take the same $100K out and move it to his Roth IRA and pay taxes on it. Is he allowed to do this, or do we have to wait until 2023 to do the conversion?
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Watch out for the Once-Per-Year Rollover Rule

Monday, May 23, 2022
Why is it so important to know how the once-per-year rollover rule works? Well, that is because trouble with the once-per year rule is the kind of trouble no one wants! An IRA owner who violates this rule is looking at some serious tax consequences.
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