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Level 2

Question

Repaid IRA withdrawal

Forum|Forum|6 years ago
July 16, 2020
4 replies
22 views

I fully repaid an IRA withdrawal within 60 days (taken in April 2020, returned May 2020 - can I get the tax my brokerage took out back on 2019 filing or do I need to wait until 2020 (i don't have a 1099-R yet)

Not A Product Question

Level 15

If you took out $1000 and they withheld $100 then you MUST put back the full $1000 now and wait for the refund of the $100 when you file the 2020 return. If you do not make up the taxes withheld and only roll $900 then only that amount will be considered rolled timely and you will pay taxes on the $100 you did not roll.

SnpdgAuthor

Level 2

Thanks Critter-3, i did pay the full amount, including covering what they withheld. So i have to wait until filing 2020 to get it back?

Level 15

Yep that is your only option.