I withdraw $40k IRA 52 days ago. few min later I withdraw another $20K. now I want to deposit $60K back and avoid taxes. is it possible? or I should return only $40K

[DavidD66]

You have 60 days from the date you receive an IRA or retirement plan distribution to roll it over to another plan or IRA. You can make only one rollover from an IRA to another (or the same) IRA in any 12-month period, regardless of the number of IRAs you own.  In other words, you cannot re-deposit the $20,000.  It will be subject to income tax and may be subject to the 10% early withdrawal penalty.

For more information, see IRA One-Rollover-Per-Year Rule 

[dmertz]

If these were separate distribution requests made by you, these would generally be two separate distributions (and would certainly be two separate distributions if made from different IRA accounts.  Assuming that these are considered to be two separate distributions, since you have not yet reached the 60-day deadline for rolling over either of these distributions you have the choice to roll over the $40,000 distribution or the $20,000 distribution, but not both (provided that you rolled back to an IRA no other IRA distributions made in the 365 days prior the the date that you received the $40,000 and $20,000 distributions).