Can 2020 Covid19-related distributions from 401k (under CARES Act) be repaid within 60 days into any qualified retirement account and treated as a rollover?
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Can 2020 Covid19-related distributions from 401k (under CARES Act) be repaid within 60 days into any qualified retirement account and treated as a rollover?
Decided that I don't need $10k taken from 401k under CARES act and "paid back" within 60 days to Traditional IRA (instead 401k). Can I treat this as rollover for 2020 tax year?
Can 2020 Covid19-related distributions from 401k (under CARES Act) be repaid within 60 days into any qualified retirement account and treated as a rollover?
Yes, you can roll the money over from your 401k into an IRA within the 60 days. Differing years do not matter. Please see this LINK for more information.