You can fund or repay funds to an IRA with stock. You will have to pay back with cash or a check.
My question is regarding 'payback' into IRA for an early distribution for COVID-19 reason. Can the Payback be with stock and / or cash ( I know cash is acceptable ) - combo of stock and cash ?
Thank you.
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Your response was ambiguous - "You can fund or repay funds to an IRA with stock." Then you said you can only payback with CASH / Check.
Please provide where you found that among the IRS regulations / code.
I've been using FORM 8915-E for instructions here, and that is 'silent' regards cash or stock. They just say 'payment'.
Thank you.
to payback a covid distribution you must return the assets you removed, but you can give it back to a different custodian, like Vanguard, which has this option online.
See IRS Instructions for Form 8915-E.
You have till Oct 15 to affect your 2020 tax return,
After that it goes on the next tax return.
Can repayment be (partially) with shares of stock - value determined at the day of transfer at market's close. ??
I understand your question.
The instructions don't address this as I thought they did.
If you did not take the COVID distribution in stock (why would you ?) , I don't see how that would work, but ask your custodian.
Some custodians, like banks, won't know what you're talking about.