On February 1,2015,Tuan withdrew $15,000 from his IRA #1.He deposited the funds back into IRA #1 within 60 days (a"rollover").Tuan may do one more nontaxable rollover distribution from either IRA #1 or IRA #2 starting in April 2015.

Question

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According to IRS rules, only one rollover is allowed per 12-month period across all IRAs, not per account. Since Tuan already completed a rollover in February 2015, he cannot do another until February 2016.

On February 1,2015,Tuan Withdrew $15,000 from His IRA #1