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Retirement tax questions
The distribution of the remaining balance from the employer plan satisfied the RMD, but the portion rolled over to the IRA that should not have been because it was RMD was a failed rollover and therefore constituted a regular IRA contribution despite the IRA custodian recording the entire deposit as a rollover. Because it constituted a regular contribution, removing it from the IRA needed to be done by an explicit return of contribution, not a regular distribution.
‎February 2, 2025
9:30 PM