TAXMAN Posted March 24, 2009 Report Share 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 Link to comment Share on other sites More sharing options...
kcjenkins Posted March 25, 2009 Report Share Posted March 25, 2009 How were they coded? Quote Link to comment Share on other sites More sharing options...
TAXMAN Posted March 25, 2009 Author Report Share 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 Link to comment Share on other sites More sharing options...
Joel Posted March 26, 2009 Report Share Posted March 26, 2009 I think we are limited to one rollover per year. Quote Link to comment Share on other sites More sharing options...
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