How the 1 rollover a year works.

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Today we're covering the confusing, 1 rollover per year rule from the IRS. We'll explain how Roth conversions fit into this rule as well as 401k rollovers and IRA transfers.
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Опубликовано:

31 июл 2024

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Комментарии : 12

@pr455 2 года назад

Thanks. Summed up mounds of articles in one video.

@msills255347 3 года назад

My dog rolls over numerous times a day and the IRS hasn't come after him. So I guess so long as the money goes from trustee to trustee whether from 401K to IRA, IRA to IRA etc numerous times in the same year there is no problem. Right?

@bindolee Год назад

Thanks for the clear explanation.

@brucesmith6868 3 года назад

Thanks Dustin good info, they are so long winded with some of there rules it leaves your eyes spinning.

@djlatu 3 года назад

Hey brother. Have you made a video on the backdoor pro rata rule? I've seen others but I like the way you explain things. Thanks!!

@glenandfriends9012 2 года назад

So if I transfer funds from an IRA to my non-IRA checking account (not COVID related), I can transfer that same amount from the checking account back to my IRA (within the 60-day limit), the IRS will not deem that as taxable (since I did not send $$$ to another financial institution?

@devnullbit Год назад

How about rolling over from a IRA in a Trust to a different custodian(indirect) , with a 60-day 1099-r any issues with that?

@gofman1109 3 года назад

My 401k only allows one conversion to Roth per year. Are they right about that limit?

@jefferydoherty7368 3 года назад

They might be talking about a ripc. Roth in plan conversation. Where you keep the money in the same tax shelter account and change/convert pre-tax money to Roth money. Or maybe not. I'm assuming you still work for the employer. If so you are subject to their rules until separation. Ask them why?