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Retirement tax questions
It depends. The IRS is very specific in its one-rollover rule regardless of your circumstances. One way to avoid this I suggest using a Trustee to Trustee rollover, also referred to as a direct transfer. This is done by using a direct transfer from one trustee to another without handling the money. Direct transfers are not counted as rollovers and are not subject to the one-per-year limitation nor the 60-day rollover period.
You may contact the trustee from one of your accounts to see if you may return the check and then have them transfer the money into the IRA account of your choice. Do this before the due date of your return.
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‎January 15, 2025
11:57 AM