Can IRA RMD be put back in IRA
Client took his RMD to buy a new house, his old house sold in just a few days and now he would like to put the RMD back in his IRA. He is well within the 60 day period and is over the age of 80. Can he do this?
Client took his RMD to buy a new house, his old house sold in just a few days and now he would like to put the RMD back in his IRA. He is well within the 60 day period and is over the age of 80. Can he do this?
Permalink Submitted by Alan - IRA critic on Wed, 2024-05-08 17:50
No. But if the distribution was larger than the RMD, the amount in excess of the RMD amount could be rolled back, subject to the one such rollover limit for a 12 month period.
Permalink Submitted by James Arnold on Wed, 2024-05-08 18:22
Thank you Alan not the answer I wanted but such is life.