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CARES Act Distribution Rollover
Based on the CARES Act I I drew $100K from my 401K account and received the funds in my bank account on Dec 2, 2020. I want to rollover the $100K to my personal IRA in Vanguard rather than return it to my 401K.
Questions:
1) I have an electronic transfer established from my checking account to my Personal Vanguard IRA account. If I electronic transfer $100K from my bank account to my Personal Vanguard IRA account within 60 days that I received $100K from my 401K, will this be considered a rollover?
2) Do I need to request from Vanguard that states that $100K electronic transfer from my bank account to my Vanguard Personal IRA account is a rollover?
3) How do I handle this roll over in Turbo tax?
Topics:
‎January 19, 2021
4:40 PM