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Retirement tax questions
The one-rollover-per-year limit only applies to IRA-to-IRA rollovers, not to any rollover involving a 401(k). However, you still want to do a rollover from one 401(k) to either another 401(k) or to an IRA by direct rollover to avoid mandatory 20% tax withholding on any amount otherwise paid to you personally from a 401(k).
‎July 21, 2020
4:41 AM