The Motley Fool Discussion Boards

Previous Page

Financial Planning / Tax Strategies

URL:  https://boards.fool.com/he-should-use-a-direct-trustee-to-trustee-34464503.aspx

Subject:  Re: Distribution from pension to IRA Date:  4/6/2020  8:04 PM
Author:  irasmilo Number:  130430 of 130894

He should use a direct trustee-to-trustee transfer. There is a rule that allows only one rollover per 12 months. Whether that rule will be enforced this year is unclear (to me; it might have been in one of the COVID-19 laws just enacted). So better to play it safe than discover later that one of the rollovers wasn't allowed and now becomes fully taxable.

Ira
Copyright 1996-2020 trademark and the "Fool" logo is a trademark of The Motley Fool, Inc. Contact Us