Roth Rollover

[Guest TCD1]

I have read that rollovers between Roth IRAs are not subject to the one-year waiting period. Therefore, I could transfer money from my Roth IRA to my taxable account on 4/1/06. I could then transfer the funds from my taxable account to the Roth IRA on 4/15/06. I could do this every month for a short term loan (as long as the funds are returned to the Roth within 60 days each time).

The following quote is from CCH:

"A rollover between Roth IRAs is virtually identical to rollovers between traditional IRAs. The only difference is that the one-year waiting period for successive rollovers does not apply to Roth IRAs."

[www.finance.cch.com]

Is this true?

[namealreadyinuse]

I think 408A(e) applies the 12 month rule to Roths by cross-referenceing 408(d)(3).

[Appleby]

I have read that rollovers between Roth IRAs are not subject to the one-year waiting period. Therefore, I could transfer money from my Roth IRA to my taxable account on 4/1/06. I could then transfer the funds from my taxable account to the Roth IRA on 4/15/06. I could do this every month for a short term loan (as long as the funds are returned to the Roth within 60 days each time).

The following quote is from CCH:

"A rollover between Roth IRAs is virtually identical to rollovers between traditional IRAs. The only difference is that the one-year waiting period for successive rollovers does not apply to Roth IRAs."

[www.finance.cch.com]

Is this true?

namealreadyinuse is right.

It does.

The statement should be A rollover between Roth IRAs is virtually identical to rollovers between traditional IRAs. The only difference is that the one-year waiting period for successive rollovers does not apply to rollovers (conversions) from Traditional IRAs to Roth IRAs.