Beneficiary IRA Withdrawal
So I have a client that took a full distrbution from her beneficiary IRA and she would like to put it back in within 60 days. Is this even allowed.
So I have a client that took a full distrbution from her beneficiary IRA and she would like to put it back in within 60 days. Is this even allowed.
Permalink Submitted by Alan - IRA critic on Mon, 2022-01-31 14:51
Unless the client is a spousal beneficiary, the distribution is irrevocable and taxable. A 60 day rollover is not allowed, however if client is working and not maxing out her employer plan, she could offset some of the tax bill by using the distribution to subsidize the increase of pre tax employer plan contributions.
Permalink Submitted by James Arnold on Mon, 2022-01-31 15:26
Thank you, not a spouse and glad I asked first.