ROLLOVER

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  • #77449
    jimfrombx
    Participant

    My wife had an Ira (Traditional) and Roth at Capital One. They announced

    they were getting out of the “IRA business” and were transferring all accounts to some company I never heard of. She went to Citibank

    to get both accounts transferred there. Citibank would not let her

    transfer the Roth to them because she did not have a Roth with them (??? Don’t ask) so she closed it to do a Rollover. After 5 weeks Capital One claimed they never got the correct forms from Citibank so she closed the IRA¬† because they were about to Transfer it to the other institution. I know you can only do 1 Rollover in any 12 month period, but because one is a Traditional and the other a Roth, does that rule NOT apply??

     

     

     

     

     

    #77450
    Alan S.
    Participant

    test

    #77460
    Alan S.
    Participant

    I have been trying to respond, but the site is blocking me…

    #77461
    jimfrombx
    Participant

    Thanks for the effort Alan.

    I have retired from Tax Preparation and let my EA credentials expire and no longer have access to Manuals, Resources, etc and figured I could get

    a response from Fairmark, and most likely from you. I remember  the site from many years ago and how busy it was and when Kaye started

    writing about Capital Gains. Times have changed.

    Thanks again for trying,

    Jim

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