Why sign in to the Community?

  • Submit a question
  • Check your notifications
Sign in to the Community or Sign in to TurboTax and start working on your taxes
New Member
posted Mar 4, 2020 4:34:05 PM

I made a withdraw from IRA in 2019. Am I able to return funds to a different IRA account in 2020 before tax deadline.

0 2 398
2 Replies
Expert Alumni
Mar 4, 2020 4:50:08 PM

If more than 60 days has elapsed since you received the funds, you can no longer return the funds to a different IRA. You would have to report it as a withdrawal (distribution).

 

This would be called an indirect rollover if the funds were returned within 60 days.

Level 15
Mar 4, 2020 4:55:20 PM

Except in the case of a qualified first-homebuyer distribution where the purchase has been delayed or cancelled, the deadline for rolling over any IRA distribution received in 2019 has passed.