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Tax Court Imposes New Limitation on IRA Rollovers

In <i>Bobrow v. Commissioner</i>, U.S. Tax Court Judge Joseph Nega surprisingly ruled that Internal Revenue Code (IRC) Section 408(d)(3)(B), which allows one tax-free 60-day rollover per year, applies to all of a taxpayer's IRAs, rather than to each IRA separately.

11 minute read April 02, 2014 at 12:00 AM
By
Amy Neifeld Shkedy and Rebecca Rosenberger Smolen
Tax Court Imposes New Limitation on IRA Rollovers

In Bobrow v. Commissioner, TC Memo 2014-21, by a decision issued Jan. 28, U.S. Tax Court Judge Joseph Nega surprisingly ruled that Internal Revenue Code (IRC) Section 408(d)(3)(B), which allows one tax-free 60-day rollover per year, applies to all of a taxpayer's IRAs, rather than to each IRA separately.

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