Can return some of my RA distribution if it exceeds my MD?

[Bumpa]

I'm 74 years old, so I cannot contribute to an IRA.

[dmertz · Accepted solution]

If you are still within 60 days of the date of the distribution you can roll over the amount that is in excess of your RMD.  You are limited to one IRA rollover per 12-month period.  You cannot roll over any distribution made within one full year of the date on which you made a previous distribution that you rolled over.

[IreneS]

UPDATED FOR TAX YEAR 2019

Contact the financial institution holding the IRA and have them adjust future distributions to match the RMD. 

While you cannot contribute to a traditional IRA, you can contribute to a Roth IRA.  Contributions can be made to your Roth IRA after you reach age 70-1/2 and you can leave amounts in your Roth IRA as long as you live.

Generally, you can contribute to a Roth IRA if you have taxable compensation and your modified AGI is less than:

• $203,000 for married filing jointly or qualifying widow(er),
• $137,000 for single, head of household, or married filing separately and you did not live with your spouse at any time during the year; and
• $10,000 for married filing separately and you lived with your spouse at any time during the year.

[Edited | 4/10/2020 |  9:25am PDT]