60 day rollover and subsequent distributions

L1: 60 day rollover and subsequent distributionsDear 72T,
I would appreciate your opinionas to the taxable event date forthe following: IRA #1 distributesfunds andthe fundsarerolled back into the same IRAor a new IRA #2inless than 60 days.Thensubsequent distribution(s) are taken from therolloverIRA in less than 1 year from the IRA #1 original distribution. I understand that the secondary distributions out of either IRA 1 or 2 will create a taxable event if taken prior to 1 year, but does it have any retroactive effect to the taxabilityprior to therollover oris the taxliabilityestablishedonthesecondary distribution dates. Example distribution from IRA#1Oct 15 2006, rolloverback into IRA #1 or new IRA #2 onDec 11, 2006, secondary partialdistributions January, May, 2007 from rollover funds, from what I”ve read thisis a 2007 taxable event.
Thank you,
Bob

2006-05-15 11:26, By: car-tows, IP: [71.254.83.109]

L2: 60 day rollover and subsequent distributionsHello car-tows:
You are essentially correct; it is the 2nd distribution that triggers the taxable event on its date. However, if this was part of an existing SEPP plan, it gets more complex & would need more information to answer the question.
TheBAdger
wjstecker@wispertel.net
2006-05-15 16:33, By: TheBadger, IP: [66.109.211.254]