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posted Mar 28, 2021 12:55:10 PM

Should I be considering this taxable income for 2020? Received a 1099-R for a distribution but was repaid within 33 days...

I withdrew funds from Traditional IRA but repaid the funds in 33days... Should I consider taxable income?

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1 Replies
Expert Alumni
Mar 28, 2021 1:07:27 PM

No, as long as you re-deposited the fund in the original IRA, or rolled it over to another IRA within 60 days, it will not be taxable, nor subject to an early withdrawal penalty if you are under age 59 1/2.