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Announcement Clarifies Inconsistency Between IRS and Tax Court Interpretations of 1-Per-Year Rollover Limitation
Bloomberg BNA Link to more items from this source
[Guidance Overview]
Apr. 28, 2014
"This effort [in IRS Announcement 2014-15] to clarify how the 1-rollover-per-year limitation applies may, however, create new uncertainties. Among them is whether the limitation will prevent a taxpayer from taking more than one distribution from any IRA during a calendar year, or only from taking more than one distribution from any single type of IRA. How the IRS resolves this issue will be critical, for example, to taxpayers with access to both traditional and Roth IRAs. Will the IRS interpret the limitation to prevent them from taking one distribution from a traditional IRA, and another distribution from a separate Roth IRA, during a single 12-month period?"

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