Withdrew 22k from IRA as RMD in error. My RMD withdrawal for 2023 should have been 14k How do I correct this mistake?

[forologia]

Withdrew 22k from IRA as RMD in error. My RMD withdrawal for 2023 should have been 14k How do I correct this mistake?

Can I redeposit the the 11k back to my IRA account?

Does the transfer from an IRA account constitute an RMD or is there a separate form needed to declare the RMD I'm claiming for the 2023 tax year??

Thank you for your advice

[Opus 17]

You can always withdraw more if you want to, or if you need to spend the money.

However, if you are trying to keep the most money in the IRA as possible, you have 60 days to return the money, or to roll it over to a different IRA.  Be aware of any tax withholding.  For example, if you requested a withdrawal of $22,000 but you only received $18,000 because there was withholding, you would still need to re-deposit or roll over the full $7000 that you think is excess.  You will get credit for any withholding on your tax return.

After 60 days, you can't return the funds.  You can maybe make a new IRA contribution (up to the usual $7500 limit and only if you have compensation from working, and if you meet other eligibility rules).

[VolvoGirl]

How did you figure 11K excess?  22,000 - 14,000 = 8,000.   You have (or had) 60 days to put the excess back including any withholding.   You will get a 1099R in Jan to enter into your tax return.   It won't show the RMD amount, just the total withdrawal.  Turbo Tax will then ask you how much was the RMD.  

[dmertz]

The rollover of some or all of the amount in excess of the RMD back to a traditional IRA is also subject to the one-rollover-per-12-months limitation.