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Distributions and RolloversCategory:

Can an IRA owner complete a 60-day rollover by contributing cash to an IRA instead of the property received in an in-kind distribution?

The short answer is “No”. We have received several calls regarding 60-day rollovers involving in-kind distributions. Surprisingly, we have found that advisors, including CPAs and attorneys, are suggesting to their clients that if they take an in-kind distribution from an IRA, they can contribute cash ...read more

IRS CHANGES THE RULES REGARDING 60-DAY ROLLOVERS

The IRS recently changed its position on the rules regarding 60-day rollovers. Historically the IRS has held that the rule regarding 60-day rollovers applies to each IRA. In fact, on page 25 of the 2013 Publication 590, the IRS gives an example of this. (1) ...read more