Tax Court Attacks IRA Rollover Rule

In Bobrow v. Commissioner, the Tax Court ruled that each taxpayer is limited to one IRA distribution eligible for rollover per 12-month period, regardless of the number of IRAs the taxpayer may have. 

IRS Publication 590 clearly states that each IRA owned by a taxpayer (not including beneficiary IRAs) is entitled to one rollover-eligible distribution per 12-month period. Seems like a difference of interpretation. 

We are awaiting further IRS guidance.


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