Solved: I withdrew $20,000 from my IRA in Jan 2016. I sold my home Apr 3, 2017, if I deposit the $20,000 back into my IRA today, will I still have to pay tax on the distribution? I am 65, so there were no fees charged.
I withdrew $20,000 from my IRA in Jan 2016. I sold my home Apr 3, 2017, if I deposit the $20,000 back into my IRA today, will I still have to pay tax on the distribution? I am 65, so there were no fees charged.
I withdrew $20,000 from my IRA in Jan 2016. I sold my home Apr 3, 2017, if I deposit the $20,000 back into my IRA today, will I still have to pay tax on the distribution? I am 65, so there were no fees charged.
Yes. The period of time to return a distribution and not have it be taxable is 60 days.
*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
I withdrew $20,000 from my IRA in Jan 2016. I sold my home Apr 3, 2017, if I deposit the $20,000 back into my IRA today, will I still have to pay tax on the distribution? I am 65, so there were no fees charged.
Yes. The period of time to return a distribution and not have it be taxable is 60 days.
*Answers are correct to the best of my ability at the time of posting but do not constitute legal or tax advice.*
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