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How do I avoid a tax penalty if I have 2 seperate 401k disbursement checks issued to 2 different rollover accounts?
I have 2 IRA accounts with 2 seperate companies. I had an IRA account with an old employer and needs funds from it for a hardship and requested disbursement for some of the funds into those 2 accounts. Received2 checks for said accounts but was told there may be a penalty tax if 2 rollover deposits are made within the same year. How do I avoid this?
‎January 15, 2025
11:34 AM