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Level 1

Question

Pension Rollover

Forum|Forum|2 years ago
March 28, 2024
1 reply
7 views

I have pension income 2023 that I received monthly. Can I still roll this over to an IRA in a lump sum without a penalty so that it doesn't count as 2023 income.

Ask the Experts - Coinbase - Mar 2024

Level 15

No, this has already been distributed to you and reported as income to the IRS. In order to do a rollover from your pension to an IRA it should be sent directly from the pension provider to the IRA. But if it is issued to you you have 60 days to deposit it into an IRA. More than 60 days has passed since the end of 2023 already so you can't do a rollover of any of 2023s distributions.

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