A repayment by the due date of the current-year tax return first offsets any portion of the distribution that would otherwise be included in income in the current year, next any income that would otherwise be included in income in the next future year (if the election to have the distribution included in equal parts over 3 years was made), next any income that would otherwise be included in income in the following future year then any remaining amount repaid would require amending the tax return(s) on which that income was previously reported to reduce the amounts previously reported as income.
