Is there any re-characterization or any other process applied to the withdrawn contribution that would enable me to now make a new Roth or Traditional IRA 2017 contribution before April 15, 2018? Thanks!
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Presumably the contribution in January 2017 was a contribution *for* 2017, not for 2016, otherwise you would not yet have made a contribution for 2017 (assuming that you made no other contributions in 2017). If you have not yet made a contribution for 2017 you have until April 17, 2018, the regular due date of your 2017 tax return, to do so.
Had you obtained a "return of contribution" of your contribution for 2017 from the Roth IRA, adjusted for any investment gain or loss while the money was in the Roth IRA, that contribution would be treated as if it never had been made. However, if you simply obtained a regular distribution, the original contribution is still considered to have been made and you have already maxed out your contribution for 2017. (A return of contribution is reported by the payer to the IRS differently than a regular distribution.)
Even if you had other money in your Roth IRA that you could now distribute as a return of your 2017 contribution to nullify your original contribution for 2017, you would simply be taking money out only to put it back in again.
Presumably the contribution in January 2017 was a contribution *for* 2017, not for 2016, otherwise you would not yet have made a contribution for 2017 (assuming that you made no other contributions in 2017). If you have not yet made a contribution for 2017 you have until April 17, 2018, the regular due date of your 2017 tax return, to do so.
Had you obtained a "return of contribution" of your contribution for 2017 from the Roth IRA, adjusted for any investment gain or loss while the money was in the Roth IRA, that contribution would be treated as if it never had been made. However, if you simply obtained a regular distribution, the original contribution is still considered to have been made and you have already maxed out your contribution for 2017. (A return of contribution is reported by the payer to the IRS differently than a regular distribution.)
Even if you had other money in your Roth IRA that you could now distribute as a return of your 2017 contribution to nullify your original contribution for 2017, you would simply be taking money out only to put it back in again.
Yes, you have up until April 17, 2018 to contribute to a new Roth or to a Traditional IRA (or both), up to your max contribution amount.
Although you may have withdrawn more than that amount in march, you can still only contribute up to the contribution limit of $5,500 or $6,500. Read more at the IRS HERE.
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