topic I did an indirect rollover from my traditional ira to my checking account but had a change in mind. i returned the money back to the original ira. is this a taxable event in Retirement tax questions

I did an indirect rollover from my traditional ira to my checking account but had a change in mind. i returned the money back to the original ira. is this a taxable event

stuy94 — Sat, 01 Jun 2019 14:11:42 GMT

No, returning the funds back to the same account would no...

AnnetteB — Sat, 01 Jun 2019 14:11:44 GMT

No, returning the funds back to the same account would not be a taxable event.

However, the funds must be returned within 60 days of the distribution and they must have been returned in their entirety. For example, if you received a distribution of $1000, but $200 was withheld for taxes, you must return the full $1000 to have a non-taxable event.

So is this considered an indirect rollover transaction? I...

stuy94 — Sat, 01 Jun 2019 14:11:46 GMT

So is this considered an indirect rollover transaction? I ask because I only get to do one indirect rollover in a 12 month period.

Yes, it would be considered an indirect rollover.

AnnetteB — Sat, 01 Jun 2019 14:11:48 GMT

Yes, it would be considered an indirect rollover.