Hello. There's a question in Deductions & Credits about a deposit I made, Is This a Repayment of a Retirement Distribution? does it need to be the same account?

I took out some money from my retirement account for expenses, then at the end of the year, I hadn't used all that money and deposited in my new retirement account with a different broker.

924

Expert Alumni

Feb 18, 2024 3:48:28 PM

No, if you take a distribution from your retirement plan, you can roll over either all or a portion of the amount, as long as you did it within 60 days. Your rollover amount does not have to be the full/exact amount as the distribution.

Why sign in to the Community?

Hello. There's a question in Deductions & Credits about a deposit I made, Is This a Repayment of a Retirement Distribution? does it need to be the same account?