DawnC
Expert Alumni

Retirement tax questions

Yes, you can repay the funds to any qualified retirement account.  

 

The CARES Act provides that any part of a COVID-19-related distribution is eligible for tax-free rollover treatment to be recontributed to a qualified plan within three years of receipt and therefore excluded from income.   Any amount recontributed is treated as a direct tax-free rollover where eligible or as an indirect rollover with the typical 60-day requirement adjusted to three years.   A recontribution is not subject to the one-rollover-per-year limitation. 

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