It depends on the relationship of the deceased IRA owner and the beneficiary.
If you inherited the IRA from your spouse AND if it's within 60 days of the distribution, you can deposit the same amount of funds back into the same or a different retirement account, as a rollover. Contact the administrator of the IRA to arrange the rollover.
If you inherited the IRA from someone other than your spouse, non-spouse inherited IRAs are never eligible for rollover contributions. As the IRS states in Retirement Topics – Beneficiary:
Inherited from someone other than spouse. If the inherited traditional IRA is from anyone other than a deceased spouse, the beneficiary cannot treat it as his or her own. This means that the beneficiary cannot make any contributions to the IRA or roll over any amounts into or out of the inherited IRA. However, the beneficiary can make a trustee-to-trustee transfer as long as the IRA into which amounts are being moved is set up and maintained in the name of the deceased IRA owner for the benefit of the beneficiary.
In this case, any 2020 distributions already taken from an inherited IRA are final.
