Temporary Need for Roth IRA Money
Can I take a distribution from my ROTH and redeposit it within 60 days like you can once per year for a traditional IRA? The advantage would be that this temporary use of the ROTH money would not be a taxable distribution and if I could put it back I could continue to keep it tax free.
Permalink Submitted by Alan - IRA critic on Mon, 2015-08-10 19:26
Yes, you can take the distribution and roll it back, but only if this is the only distribution rolled over within the last 12 months for all your combined TIRA and Roth IRAs. You do not get one rollover for each type of IRA.