withdrawal from IRA and put back in
Client distributes $$ from IRA. Can he put funds back within 60 days to avoid penalty and tax?
Yes, the withholding can be replaced using other funds. However, the client must have a rollover available as only one such 60 day rollover over a 12 month period is allowed.
Permalink Submitted by Geoffrey Kasher on Tue, 2024-05-28 20:46
if client withholds tax from the distribution can he put back the gross amount withdrawn