To clarify. All our IRA's were started in 2010, 2011 and 2012. I had a Roth and Traditional and my wife had 2 Roth's and one traditional. We had them deposited to our checking account 3-10-2023 and 3-11-2023. I'm 65 and retired, she is 64 and still working. No contributions were made to any of the IRA's in 2022 or 2023.
So if I understand this correctly:
1) The Roth's will not incur any penalty and will not be added as income on 2023 taxes. 2 ) The traditionals will not incur a penalty but will be added as income on 2023 taxes.
3) She can rollover just one of these distributions to a like IRA ( Roth to Roth). And I can do the same for only one.
Thanks to all who have replied!
