Luhar
Dryer sheet wannabe
I rolled my Roth IRA over from one institution to another less than a year ago. I would like to roll a portion of it over to another institution (to gain access to a wider variety of mutual funds). Publication 590 states that a rollover from one IRA to another is subject to a waiting period. Specifically, on page 23, it states: "Waiting period between rollovers. Generally, if you make a tax-free rollover of any part of a distribution from a traditional IRA, you cannot, within a 1-year period, make a tax-free rollover of any later distribution from that same IRA. You also cannot make a tax-free rollover of any amount distributed, within the same 1-year period, from the IRA into which you made the tax-free rollover."
Does the one year waiting period apply when you are rolling one Roth to another Roth? I've never had a traditional IRA and publication 590 makes it sound like the 1-year waiting period only applies when you are rolling funds from a Traditional IRA to a Roth IRA.
Thanks in advance.
Does the one year waiting period apply when you are rolling one Roth to another Roth? I've never had a traditional IRA and publication 590 makes it sound like the 1-year waiting period only applies when you are rolling funds from a Traditional IRA to a Roth IRA.
Thanks in advance.