Received lump sum pension distribution, with 20% tax deducted. But distribution will (a) kick me to higher bracket (b) 10% penalty. Can I move it to Roth IRA avoid penalt
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1 Replies
dmertz
Level 15
Feb 1, 2020 7:34:14 PM
The deadline for rolling over such a distribution or converting it to Roth is the 60th day following the date of the distribution. If you are beyond that, you are stuck with the tax consequences of the distribution.