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You would not have to pay tax on a rollover from one type of account to another of the same type.
You would not have to pay tax on a rollover from one type of account to another of the same type.
Thanks for the timely answer to my question. Now, I must talk with fund people.
Non-qualified accounts are not eligible for rollover. A non-qualified insurance policy or annuity can be exchanged through a process called a section 1035 exchange, reported with code 6 in box 7 of the Form 1099-R, but otherwise its a taxable distribution and an independent purchase of a new policy or annuity. TurboTax automatically treats a code 6 Form 1099-R as nontaxable because a code 6 Form 1099-R will always have a zero in box 2a as the taxable amount.
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