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Rollover. You possibly can obtain a distribution from a standard IRA and roll it over (contribute it) to a Roth IRA within 60 days after the distribution. Nonetheless, an element or all of the distribution out of your traditional IRA may be included in gross revenue and subjected to extraordinary revenue tax. If the IRA has $1,000 or extra of unrelated commerce or business gross income, the IRA trustee is required to file a Kind 990-T, Exempt Organization Business Income Tax Return. You have to pay the 6% tax
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