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other traditional IRA. This is because in 2018 you are only allowed to make one rollover within a 1-year period. So when you make a rollover from IRA-1 to IRA-3, you can’t make a rollover from IRA-2 to any other traditional IRA. Exception. An IRA distribution made from a failed fi- nancial institution by the Federal Deposit Insurance Cor- poration as receiver is not treated as a rollover for purpo- ses of the one-rollover-per-year limitation, provided: 1. Neither the failed financial institution nor the depositor initiated the distribution, and 2. No financial institution has assumed the IRAs of the failed financial institution. Application of one-rollover-per-year limitation. You can make only one rollover from an IRA to another (or the same) IRA in any 1-year period regardless of the number of IRAs you own. The limit will apply by aggregating all of an individual's IRAs, including SEP and SIMPLE IRAs as well as traditional and Roth IRAs, effectively treating them as one IRA for purposes of the limit. However, trustee-to-trustee transfers between IRAs aren’t limited and rollovers from traditional IRAs to Roth IRAs (conver- sions) aren’t limited. Example. John has three traditional IRAs: IRA-1, IRA-2, and IRA-3. John didn’t take any distributions from his IRAs in 2018. On January 1, 2019, John took a distri- bution from IRA-1 and rolled it over into IRA-2 on the same day. For 2019, John can’t roll over any other 2019 IRA distribution, including a rollover distribution involving IRA-3. This wouldn’t apply to a conversion. The same property must be rolled over. If property is distributed to you from an IRA and you complete the roll- over by contributing property to an IRA, your rollover is tax free only if the property you contribute is the same prop- erty that was distributed to you. Partial rollovers. If you withdraw assets from a tradi- tional IRA, you can roll over part of the withdrawal tax free and keep the rest of it. The amount you keep will generally be taxable (except for the part that is a return of nonde- ductible contributions). The amount you keep may be sub- ject to the 10% additional tax on early distributions dis- cussed later under What Acts Result in Penalties or Additional Taxes. Required distributions. Amounts that must be distrib- uted during a particular year under the required distribu- tion rules (discussed in Pub. 590-B) aren’t eligible for roll- over treatment. Inherited IRAs. If you inherit a traditional IRA from your spouse, you generally can roll it over, or you can choose to make the inherited IRA your own as discussed earlier under What if You Inherit an IRA. Reporting rollovers from IRAs. Report any rollover from one traditional IRA to the same or another traditional IRA on Form 1040, lines 4a and 4b; or Form 1040NR, lines 17a and 17b. Enter the total amount of the distribution on Form 1040, line 4a; or Form 1040NR, line 17a. If the total amount on Form 1040, line 4a; or Form 1040NR, line 17a, was rolled over, enter zero on Form 1040, line 4b; or Form 1040NR, line 17b. If the total distribution wasn’t rolled over, enter the taxable portion of the part that wasn’t rolled over on Form 1040, line 4b; or Form 1040NR, line 17b. Enter “Rollover” next to line 4b; or line 17b, Form 1040NR. See your tax return instructions. If you rolled over the distribution into a qualified plan (other than an IRA) or you make the rollover in 2019, at- tach a statement explaining what you did. For information on how to figure the taxable portion, see Are Distributions Taxable? in Pub. 590-B. Rollover From Employer's Plan Into an IRA You can roll over into a traditional IRA all or part of an eli- gible rollover distribution you receive from your (or your deceased spouse's): • Employer's qualified pension, profit-sharing, or stock bonus plan; • Annuity plan; • Tax-sheltered annuity plan (section 403(b) plan); or • Governmental deferred compensation plan (section 457 plan). A qualified plan is one that meets the requirements of the Internal Revenue Code. Eligible rollover distribution. Generally, an eligible roll- over distribution is any distribution of all or part of the bal- ance to your credit in a qualified retirement plan except the following. 1. A required minimum distribution (explained later un- der When Must You Withdraw Assets? (Required Minimum Distributions) in Pub. 590-B). 2. A hardship distribution. 3. Any of a series of substantially equal periodic distribu- tions paid at least once a year over: a. Your lifetime or life expectancy, b. The lifetimes or life expectancies of you and your beneficiary, or c. A period of 10 years or more. 4. Corrective distributions of excess contributions or ex- cess deferrals, and any income allocable to the ex- cess, or of excess annual additions and any allocable gains. 5. A loan treated as a distribution because it doesn’t sat- isfy certain requirements either when made or later (such as upon default), unless the participant's ac- crued benefits are reduced (offset) to repay the loan. See the discussion earlier of plan loan offsets (includ- ing qualified plan loan offsets) under Time Limit for Making a Rollover Contribution. Page 24 Chapter 1 Traditional IRAs