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Does a Simple IRA rollover affect my taxes? Does it need to be reported when I file?
I would like to rollover a Simple IRA from one company to another. I do plan to keep it as a Simple IRA. Does this affect how I file my taxes?
If the money is transferred from one company to the other, it will not affect your taxes. If one company gives it to you to give to the other, you will receive a form 1099-R to enter on your return. It will not have any income or taxes as long as the full amount is rolled over within 60 days.
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