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Re: Donotunderstand post# 3128

Friday, 08/01/2014 12:09:31 PM

Friday, August 01, 2014 12:09:31 PM

Post# of 3649
If the IRA money comes to your house it is still property of your IRA and should be correctly deposited into your IRA. It won't actually be a category of contribution you have likely used before as it is settlement proceeds or something like that.

It will likely be made exactly as your account is titled and how you receive your statements. I suspect it is Jane Doe IRA or something. I doubt it will have the brokers name. But your bank will likely require that you deposit into your IRA. Otherwise the bank won't be able to issue a proper 1099-R for the amount you elect to subsequently distribute subject to income tax (or Roth maybe not) or whatever other situation may correctly apply.

Being over 59 1/2 just means there is no penalty for early distribution if you subsequently take a distribution.

This post is my own opinion, and should not be relied on for your investment decisions.

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