Here are some of the disadvantages of an IRA rollover:
Rollovers from company or Keogh plans may take away your spouse's right to share in plan assets.
IRAs can't claim the limited tax relief allowed on lump-sum distributions.
Tip: To avoid tax hassles, rollovers should be done between the trustees of the plans involved. In other words, the check should not be made out to you personally, but to the trustee of the rollover account.
This is intended to provide generalized information that is appropriate in certain situations. It is not intended or written to be used, and it cannot be used by the recipient, for the purpose of avoiding federal tax penalties that may be imposed on any taxpayer. The information or tools on this page should not be acted upon without specific professional guidance. Please call us if you have questions.
GREENLEE, KURRAS, RICE & BROWN PA CPA'S
Serving Clients with personal attention since 1933
627 N Donnelly Street
Mount Dora, FL, 32757 Phone: 352-383-6300 Fax: 352-383-6356 info@gkrb.com
605 W Montrose St.
Clermont, FL 34711 Phone: 352-394-3256 Fax: 352-394-6910 info@gkrb.com
Connect With Us
Days until April 15
Latest News
Greenlee, Kurras, Rice, Brown
Certified Public Accountants
627 N Donnelly Street, Mount Dora, FL 32757
Phone: (352) 383-6300 | Fax: (352) 383-6356 | info@gkrb.com