In January, I withdrew cash from my Traditional IRA and my Roth IRA (both of the IRA's are with the same custodian, one check) to act as a bridge loan until my house was sold. Now that I have the cash from the sale, I would like to redeposit some of the proceeds to the IRA's using the 60 day rollover rule.
The IRS rules say that this can be done once every 12 months. Can I send a check to the custodian and have them split the money between the two accounts? Or does that count as two rollovers?
The information I have found on this seems to be vague and contradictory. Can you give a clear picture?
Thanks for your help.
