Advice on how to liquidate stock accounts?

CountingDown
Sun, 02 Aug 2015 00:31:48 +0000

If you are rolling from one IRA to another, the once-a-year rollover rule doesn’t apply. IRA-to-IRA transfers are known as direct rollovers and since you never get constructive receipt of the $$, it’s not a taxable event and there are no limits on how many IRAs you can consolidate.

The once-a-year rule applies when you take out a distribution from your IRA and have it paid directly to you. You’d then have 60 days to get it back into an IRA or it becomes taxable. THAT is the scenario that’s covered by the once-a-year rule.