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How do I avoid paying a penalty on an $185,000 Roth IRA distribution we received a 1099-R for. It was a short term loan to our son and was paid back in less than 60 days
We were told by Fidelity that we could withdraw money from our Roth IRA for a short term loan for our son as long as it was deposited within 60 days back into the account. We did that. We received a 1099-R for $185,000 today. My husband is 66. It is listed under Gross Distribution.
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‎June 6, 2019
7:27 AM