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Question about Consumer Reports Oct 2014 IRA blurb
Old 09-12-2014, 02:37 AM   #1
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Question about Consumer Reports Oct 2014 IRA blurb

On Page 9 of the most recent Consumer Reports (10/14) there is an article titled "New tax rules limit your IRA rollovers."

I am not sure I am understanding it correctly, is states that you can only do one rollover per year starting in 2015. I am thinking the key words are "non-taxable" rollover.

My wife and I are still in accumulation and make too much for the direct Roth contribution, so we put in $916 per month in a non deductible traditional IRA then immediately (over two days or so) roll it into the Roth, resulting in approx 12 'rollovers' per year. Now I am wondering if we are going to have to wait till we have the full amount and do it once per account per year. But it's after tax monies so I am hoping the newly defined rules do not apply.

Has anyone else read this article? Am I on the right track

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Old 09-12-2014, 05:29 AM   #2
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You won't need to change as it does not apply to trustee-to-trustee transfers.

IRA One-Rollover-Per-Year Rule

Beginning as early as January 1, 2015, you can make only one rollover from an IRA to another (or the same) IRA in any 12-month period, regardless of the number of IRAs you own (Announcement 2014-15). You can, however, continue to make as many trustee-to-trustee transfers between IRAs as you want. You can also make as many rollovers from traditional IRAs to Roth IRAs ("conversions") as you want.
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Old 09-12-2014, 05:43 AM   #3
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Technically, a transfer from a traditional IRA to a Roth is not a rollover but a conversion. See
Rollovers of Retirement Plan and IRA Distributions

for the particulars.
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