topic I took distributions from inherited IRA in 2020. Under the cares act disaster relief 3 year rollover rule can I return distributions to the inherited IRA or another IRA? in Retirement tax questions

I took distributions from inherited IRA in 2020. Under the cares act disaster relief 3 year rollover rule can I return distributions to the inherited IRA or another IRA?

jakephillips82 — Sun, 07 Mar 2021 12:09:08 GMT

I know that you had until August 31 2020 to rollover the funds. However TurboTax software is allowing form 8915-E to apply the three year rollover to return the distributions ratably. I didn't know if this was possible or not. Maybe I can complete a rollover under the cares act disaster relief to another IRA account.

Re: I took distributions from inherited IRA in 2020. Under the cares act disaster relief 3 year rollover rule can I return distributions to the inherited IRA or another IRA?

fanfare — Sun, 07 Mar 2021 12:17:09 GMT

in the case of an inherited IRA, it can only go back to that same IRA account.

you must be affected by COVID in 2020.

Re: I took distributions from inherited IRA in 2020. Under the cares act disaster relief 3 year rollover rule can I return distributions to the inherited IRA or another IRA?

jakephillips82 — Sun, 07 Mar 2021 12:28:46 GMT

Thanks for the response. I see what you are saying about the rollover to the same account. However can you still apply the cares act 3 year rollover relief for inherited accounts. I didn’t see guidance in any irs publications or instructions, however TurboTax software is allowing the rollover.

Re: I took distributions from inherited IRA in 2020. Under the cares act disaster relief 3 year rollover rule can I return distributions to the inherited IRA or another IRA?

dmertz — Sun, 07 Mar 2021 13:20:40 GMT

The CARES Act does not permit repayment to an inherited IRA of a coronavirus-related distribution back to the inherited IRA.

If you are the surviving spouse of the decedent, the repayment can be made to your own IRA, but not back to the inherited IRA.

If you are a non-spouse beneficiary, no repayment is permitted.