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.

posted

Connect with an expert

1 Best answer

Accepted Solutions

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.

View solution in original post

1 Reply

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.

Still have questions?