Re: RMD under CARES Act
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Returning Member

RMD under CARES Act

I took my full year lump sum RMD for 2020 on Jan 5th. At this time, under the CARES Act., 2020 RMD's are deferred...but no one can tell me (Including IRS which is unavailable) whether the 60-day redeposit feature has also been extended.  I'd like to redeposit the lump sum $$ I withdrew in January if at all possible to take advantage of NOT having a RMD in 2020.  Does anyone know anything about a "re-deposit" time extention or anything pertaining to this situation?  Thanks in advance Jerry U

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Expert Alumni

RMD under CARES Act

Currently, there is no extension to the 60 day redeposit rule for taking an RMD in 2020.

 

@Jerry U

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Level 8

RMD under CARES Act

This just in. Now you can rollover all RMD's taken in 2020 until the end of August. Wow. And it doesn't use up your once a year rollover.

 

https://investornews.vanguard/what-the-cares-act-means-for-you/

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New Member

RMD under CARES Act

Will TurboTax for 2020 tax year address RMD amounts which were redeposited into an IRA? I did an early withdrawal but under the CARES Act guidelines, I redeposited a portion of that money back into my IRA. Hopefully TurboTax will prompt me thru that without needing a CPA or tax professional of some sort.

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