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Menon Accounting Solutions,CPA, LLC
News & Publications
Journal of Accountancy:
As per IRS one-IRA-rollover-a-year rule will be effective in 2015
Sec. 408(d)(3)(A)(i) permits a tax-free rollover of funds in a taxpayer’s IRA as long as the amount distributed to the taxpayer is paid into an IRA for the taxpayer’s benefit within 60 days, subject to the one-rollover-per-year limit of Sec. 408(d)(3)(B). In case of more than one roll over in a year, the entire amount is subject to tax.
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