The Rodent
Recycles dryer sheets
- Joined
- Sep 14, 2016
- Messages
- 72
I own a mutual fund (name is irrelevant) in an IRA. There was a class action settlement against the mutual fund. My questions are:
1. If i take the settlement as a check, is that considered a taxable distribution from an IRA?
2. If I have the settlement check sent directly to my IRA, is that considered a contribution, transfer, or rollover?
3. None of the above. the settlement check is outside the scope of the IRA.
The settlement is likely to be very small and I don't a small amount of money to create a big hassle for me.
Your thoughts are appreciated.
1. If i take the settlement as a check, is that considered a taxable distribution from an IRA?
2. If I have the settlement check sent directly to my IRA, is that considered a contribution, transfer, or rollover?
3. None of the above. the settlement check is outside the scope of the IRA.
The settlement is likely to be very small and I don't a small amount of money to create a big hassle for me.
Your thoughts are appreciated.