Hello, this question is going to be about doing IRA rollovers and transfers, the once per year rule, and purchasing an annuity.
My financial advisor had me do two things into order to prepare for purchasing an annuity.
1) I transferred money from one qualified rollover IRA account to another. The reason this was done was to simply get all the funds for annuity number 1 into a single IRA account. This was done between two Fidelity rollover IRAs that I have and it seemed to be a direct transfer that was settled in 2 days.
2) My wife did a rollover of her company 401K plan to a Charles Swaab IRA in preparation to purchase annuity #2 from qualified funds. She never received a check, and the funds/check seemed to do directly to Charles Swaab.
My simply question(s) is this:
1) Are these both non-taxable events? It seems to me they are because the from and to accounts are both qualified?
2) Does any of the two scenario above count toward the once per year rule?
I am primarily asking this because I believe the annuities will be purchased by rolling over/transferring against to the insurance company "Annuity IRA" as qualified funds.
