COMMENT: If you were thinking a rollover, he flubbed because the roll did not go into an IRA account.
COMMENT: Trimmer was well outside the 60-day window at that point.
“The law requires you to roll over your distribution within 60 days of the distribution date. If the roll over exceeds the time frame it becomes fully taxable.”
- Trimmer did not follow procedures (Rev Proc 2013-16 for the nerds).
- This made the hardship waiver provision “inapplicable.”
- Since Trimmer had not pressed the point, there technically had been no “final administrative determination.”
- Without that “final,” the Tax Court had no authority over the case.
- In any event, Trimmer had never explained why he was unable to accomplish the two rollovers within 60 days.
- And where is that puppy?