There has been more than a little confusion about the impact of a 2014 Tax Court decision regarding IRA rollovers. The court held in Bobrow v. Commissioner, T.C. Memo. 2014-21 that you cannot make a non-taxable rollover from one IRA to another if you have already made a rollover from any of your IRAs in the preceding one-year period. There was concern that the new ruling would apply to the “rollover” of retirement accounts and limit a person’s ability to properly position those savings.
Are you looking forward to retirement? If you are like me, the answer may be “yes” and “no”. I can’t believe that I’m old enough to think about it, but the reality is setting in.