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IRA and Roth IRA distributions and 60 day limit
This year, 2023, I took money out of my IRA and my Roth IRA to buy a lake cottage. I also paid Federal and State taxes on the money I took out of my IRA. I have also sold some property this year, so I am able to put some of the money back into my IRA and Roth IRA within the 60 day limit.
My question is when I put the money back into my IRA and Roth, is there anything special that I need to do with my Financial institution (Fidelity) besides just sending them the money?
Is there any special type of paperwork that I need to do when I file my 2023 taxes next year?
Is the money that went to Federal and State taxes refundable? Do I have to wait until I file my 2023 taxes to get the refunds?
Are there any other situations that I need to be away of?
Topics:
May 4, 2023
3:45 PM