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Retirement tax questions
Within 60 days, you can return it to the same IRA, or deposit it in a different IRA. This would be an "indirect rollover" and you can do this once per calendar year. You will get a 1099-R that you have to report, and you tell the program it was a rollover.
If more than 60 days, it is a withdrawal and you have to pay the tax (and penalty.)
May 13, 2025
1:03 PM