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Retirement tax questions
In that case I'm not sure that you can blame TDAmeritrade since they relied on your input, and I'm not sure that this could be resolved as a bookkeeping issue. For performing a late rollover under Rev. Proc. 2020-46, it would make sense to use a different reason: the funds were deposited into and remained in an account that you mistakenly thought was an eligible retirement account. You would still be subject to the 6% excess traditional IRA contribution penalty for three years.
March 20, 2024
3:06 PM