How to Work With Multiple IRA Accounts
Jan 30, 2006 (Updated on Apr 19, 2007)
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By Denise Appleby, APA, CISP, CRC, CRPS, CRSP and Ed Slott, CPA
It's not uncommon to have clients who have multiple SEP, SIMPLE, or traditional IRA accounts. While in many respects the tax treatment is the same, different penalties, protections, and rules apply. Bone up on how to combine, roll over, and transfer funds between the IRAs, as well as how to handle distributions, taxes, and losses.