IRA rollover question
If I withdraw $20,000 from my IRA, can I return $10,000 within 60 days and treat it as a rollover, or must I return the entire $20,000?
If I withdraw $20,000 from my IRA, can I return $10,000 within 60 days and treat it as a rollover, or must I return the entire $20,000?
Permalink Submitted by Alan - IRA critic on Mon, 2022-05-02 23:09
You can roll over any partial amount you wish, or the full amount. But you must have a rollover available under the one rollover limit per 12 month period. For example, if you took a distribution since April, 2021 that you previously rolled over, you could not take another distribution now and roll over any of it until 12 months passed since the prior distribution.
Permalink Submitted by Arthur Dicker on Tue, 2022-05-03 03:55
Thank you, Alan! I appreciate your advice on this forum.