topic Rollover from IRAs in Retirement tax questions

Rollover from IRAs

Gerald_L — Sun, 23 Feb 2020 17:08:39 GMT

Can a taxpayer rollover from a traditional IRA to both a Roth IRA and a traditional IRA in the same tax year?

Re: Rollover from IRAs

dmertz — Sun, 23 Feb 2020 18:55:24 GMT

Yes.

If you are concerned about whether or not this could be a violation of the one-rollover-per-365-days rule, a rollover from a traditional IRA to a Roth IRA is a Roth conversion and Roth conversions are disregarded with respect to this rule. However, if you rolled more than one distribution from an IRA to another IRA of the same type, traditional or Roth, within a 365-day period, that would be a violation.

Re: Rollover from IRAs

Gerald_L — Mon, 24 Feb 2020 16:46:52 GMT

Thank you. I thought it worked that way but wanted to be sure. Thanks for the confirmation.