Change is coming to the “once each 12 months” rule for indirect IRA-to-IRA rollovers. The federal Tax Court, in Bobrow vs. Commissioner of Internal Revenue Service, held that you can’t make a non-taxable rollover from one IRA to another if you have already made a rollover from any IRA that you own. The IRS says it will apply the rule to distributions that take place on or after Jan. 1, 2015. In MarketBeat, Ellie Lowder discusses the ramifications of the ruling and what you need to do.
John Iekel is Senior Writer and Editor for the NTSA Net portal.
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