qbteachmt
Level 15
12-07-2019
07:46 AM
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"the personal accounts are Rollover IRA,"
"Rollover" is how it got Funded. That would likely be a Traditional IRA, then.
"regular IRA,"
= Traditional, as well. The brokerage might have allowed the person to send their Rollover to that existing Traditional IRA account, or combine them now. They are the same concept.
"and SEP IRA."
Again, a brokerage might allow one "sheltered" account to hold all Traditional, SEP and Rollover IRA funds of that same type = falling under the same regulations. Or, once they are no longer operating the C corp, the would "transfer" the SEP IRA into the Tradition IRA, to reduce the number of accounts they manage. That's why you need to know the Types of accounts.
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"Level Up" is a gaming function, not a real life function.
"Level Up" is a gaming function, not a real life function.