Tax Traps

摘要

California lawyer james dirks pulled $118,000 out of an individual retirement account to buy a foreclosed house at auction. He closed on a mortgage, put the $118,000 back into an IRA and treated it on his tax return as a nontaxable IRA rollover. But you get only 60 days to complete a rollover, and Dirks kept the money out of his IRA two weeks longer.