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New Member
posted Dec 5, 2022 10:05:18 AM

RMD 2020

In early 2020, I took my RMD.

I found later that year that RMDs were waived due to COVID.

Can I put that money back into my IRA and recover the taxes that were charged?

0 5 425
5 Replies
Level 15
Dec 5, 2022 10:09:19 AM

no. 

Level 15
Dec 5, 2022 5:22:37 PM

The deadline to do so was August 31, 2020.

Level 15
Dec 5, 2022 7:22:40 PM

if deposit was made before Aug 31, 2020

was that a repayment 5498 line 14 or a rollover 5498 line 2 ?

 

@dmertz 

Level 15
Dec 5, 2022 8:39:44 PM

I read the instructions for Form 5498 as saying that if the redeposit was made during the 60 days following the date distribution was received it should be reported in box 2 as a rollover, otherwise in box 14a as a late rollover.

Level 15
Dec 6, 2022 11:28:59 AM

That causes confusion because:

Form 8915-E says enter total amount of repayments made before filing your tax return,

not rollovers made before filing.

 

@dmertz