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Home / Opinion Digests / Court Allows Rollover IRA Exemption (access required)

Court Allows Rollover IRA Exemption (access required)

A Richmond U.S. Bankruptcy Court allows a chapter 11 debtor to claim an exemption in a rollover IRA account, despite an objection from MT Technology Enterprises LLC. The court took under advisement whether a "prohibited transaction" as defined by 26 U.S.C. § 4975 had occurred with respect to the IRA account that transformed it into property ...

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