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Is the 2005 End of Year Gift different from the IRA Tax-Free Rollover?

April 26, 2017different gift IRA rollover tax-free year

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Is the 2005 End of Year Gift different from the IRA Tax-Free Rollover?

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Yes. During the negotiations between the House and Senate, the decision was made to delete the IRA Tax-Free Rollover from the Katrina Relief bill. The IRA Tax-Free Rollover did not pass. However, the 2005 cash gifts provision was then added to the Katrina Relief bill.