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lancelesen
Returning Member

capital gains on a 60 day ira rollover

I did a 60 day rollover to move money from one Roth IRA account to another Roth IRA account at different brokerage company. During the 60 days, the money was temporarily invested in a taxable brokerage account, and it had a capital gain of ~$14,000 in the taxable account. Shortly before the 60 days was up, I deposited the original amount withdrawn from the first Roth IRA into the second Roth IRA account. Now I am wondering if I can also deposit the capital gain into the second Roth IRA account as a "repayment of a retirement distibution"? Any thoughts or advice are much appreciated.  

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2 Replies

capital gains on a 60 day ira rollover

I’m not sure I understand what you are repaying. 

dmertz
Level 15

capital gains on a 60 day ira rollover

"Now I am wondering if I can also deposit the capital gain into the second Roth IRA account as a "repayment of a retirement distibution"? "

 

No.  What you did with the money outside of the Roth IRA has nothing to do with the rollover.  The capital gains are taxable as capital gains.

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