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Level 2
March 29, 2020
Question

2020 IRA Distribution Repayment

  • March 29, 2020
  • 1 reply
  • 0 views

Under the very recent Stimulus Package no RMD has to be taken in 2020. I am over age 70.5 and have already taken a partial distribution from my IRA. Can I repay this distribution to my IRA to avoid having this included in my AGI and paying taxes for 2020? 

1 reply

Level 15
March 29, 2020

no - that ship sailed - unless you roll back within 60 days 

DadSteveAuthor
Level 2
March 29, 2020

Might this be allowed under Rollover Rules?

Hal_Al
Level 15
Level 15
March 29, 2020

I think so, if you meet the 60 day rule.

I'll ask for another opinion. @dmertz