@DawnC and @KCWhelehan
I am a bit confused by your terminology here, and perhaps a subtle distinction.
I thought the "recontribution" had to come from personal outside funds to qualify as a payback ?
or am I wrong?
i.e. a 401k participant who has regular contributions to their 401k as a regular payroll deduction (Code D in box 12).....I thought those $$ cannot be considered part of the payback, and I'm not sure that is being made clear. IF that is true, it needs to be clarified that the payback $$ must come from either writing a check to the plan as a payback, or perhaps a separate deduction from paycheck being paid back as-if a loan and not as an actual "contribution".
IF that is the case, perhaps "contribution" or "recontribution" should be replaced by "payback" (rollover payment?) when discussing this.
____________*Answers are correct to the best of my knowledge when posted, but should not be considered to be legal or official tax advice.*
