Question

a trustee to trustee rollover is the preferred potential way to transfer one

Answer 1

ANSWER: A trustee-to-trustee rollover is a potential approach to transfer one retirement to another. Below are few potential issues which tax-payers faces while taking the distribution and handling the rollover themselves:

-- The taxpayer should complete the entire rollover process within a period of 60 days or the distribution amount will be taxable.

The taxpayer should complete the entire rollover process within 60 days or the distribution will be taxable.

--There will be a penalty on taxpayer if they try to do a rollover from the same IRA more than once per year.

--The distribution will be subject to withholding at a rate of 20%, and the taxpayer should come up with this amount themselves or it will be termed taxable