Can you re-pay an IRA? If you do it within the tax year, is the withdrawl the difference?

[lhess17776]

If you take out $50,000 from your IRA, then later re-pay $25,000 are you taxed on the $50,000 you originally withdrew, or the $25,000 you ended taking out?

[VolvoGirl · Accepted solution]

You have to put it back within 60 days.  You just pay tax on the amount you kept out.  If it's over 60 days you owe on the whole amount.

[lhess17776]

Thanks for the help-----