Funds Withdrawal From IRA with a return within 60 days

2020-04-16T07:37:13.233427+00:00
$0 Budget
Closed
ira ira withdrawal tax tax return

I have been contributing to the IRA for over 30 years. I withdrew $45,000 from my IRA to fund a home purchase and within 60 days returned the full amount. Column 2a of my 1009 R reflects the total due amount on taxes. From what I know, it should not include the withdrawn amount. Could you guide me a bit?

5 Views
1 Answers
finance, law, accounts 2020-04-16T07:40:26.361703+00:00
Message

You had a direct roll-over from one qualified plan to another. That is, if you returned the withdrawn amount within 60 days. Put $0 for box 2a.

Answer

Nothing to preview