On February 1, 2017, 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 2017.

Question

Quizplus · Accepted Answer

According to IRS rules, a person can only do one nontaxable rollover distribution from an IRA once every 12 months. Since Tuan already did a rollover in February 2017, he cannot do another one until February 2018. Therefore, option B is correct.

On February 1, 2017, Tuan Withdrew $15,000 from His IRA