@nolanwittrock wrote:
@macuser_22
Under a normal year I think you would be right. However, my understanding is that if you have paid back a Covid withdrawal, because of the special rules from the CARES act, the amount that you paid back does not count as income at all. If I withdrew 30k and paid back 30k, you have zero income. Your MAGI should not increase in this scenario.
That would be true for a rollover - it does not count as income. However the CARES Act "repayment" is not a rollover. It simply allows you to repay (replace) the distribution with other money over a 3 year period, but it is still a distribution.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
