60 days to put $ back in IRA
If client takes money out of an IRA in May, and in July wants to put money back, can it go BACK to any Traditional IRA? Or only the one it came from?
If client takes money out of an IRA in May, and in July wants to put money back, can it go BACK to any Traditional IRA? Or only the one it came from?
Permalink Submitted by Alan - IRA critic on Tue, 2020-05-19 16:40
It can be rolled into any IRA or any current employer plan that accepts rollovers from IRA. Note that a rollover with a TIRA on both ends of the transaction can only be done one time in a 12 month period measured from the date of distribution.