If the money is rolled back within 60 days of the date of distribution there are no tax consequences. The 60 days is strict - miss it by one day and the whole amount becomes taxable and cannot be returned. IRA's are not intended for making loans. The purpose of rollovers is to manage accounts and move money, hence the 60 day time limit to discourage short term loans.
**Disclaimer: This post is for discussion purposes only and is NOT tax advice. The author takes no responsibility for the accuracy of any information in this post.**
