TAXMAN Posted March 24, 2009 Report Posted March 24, 2009 TP wd IRA from bank 1. rolls to bank 2. 10 months later TP wd IRA from bank 2 and moves to bank 3. I believe we have a taxable event equal to the rollover? And could we have an excess penality for leaving the IRA sitting in Bank 3? All imput greatly appreciated. Banks told TP he could do this. None of these were direct transfers as I have 1099's from bank 1 and bank 2. Quote
TAXMAN Posted March 25, 2009 Author Report Posted March 25, 2009 KC they were all coded 7 thanks. The only way I found out was to ask tp where all this income came from and went. Quote
Joel Posted March 26, 2009 Report Posted March 26, 2009 I think we are limited to one rollover per year. Quote
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