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February 2015 Archives

Caution to Those with Multiple IRAs: Rollover Exception Applies Across All Accounts

Distributions from an IRA are normally taxable, but like so many things in tax law, there are exceptions. One such exception permits a taxpayer to transfer or "rollover" money from one IRA to another IRA, provided it is accomplished within 60 days of the initial distribution. There is, of course, an exception to the exception. A tax free rollover can only be performed once per year.

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