Submitted by email@example.com on Fri, 2012-11-30 15:40 Forums: IRA Discussion ForumCash was withdrawn from a rollover IRA. The cash was spent, not reinvested. Can a rollover (direct or indirect) from a solo 401k be used to redeposit the cash in the original IRA? Re: "60 day loan" from IRA Permalink Submitted by alan-oniras@yah... on Fri, 2012-11-30 16:05 No. A rollover from a 401k would not result in a rollover of the IRA distribution, so would not solve the problem. To complete the IRA rollover, cash will have to be rolled back within 60 days or the distribution will be taxable and probably the 10% penalty as well. There could be a distribution from another plan to produce the cash to complete the IRA rollover, but then the taxes and penalty would fall on the other plan distribution. If cash to complete the IRA rollover is lacking, a portion could be rolled over and the taxes would then only apply to the portion not rolled over. A short term loan could also be taken out to complete the rollover. Re: "60 day loan" from IRA Permalink Submitted by firstname.lastname@example.org on Fri, 2012-11-30 16:52 Thank you Alan. How about this scenario? I do a rollover (direct or indirect) from IRA number two back into ira one, on or before Dec. 7 (day 60 of the original withdrawal from ira 0ne). Then in January, I take enough of my 2013 MRD's from my 401k and from my two ira's, deposit them in my bank account as taxable income. Then use that cash to pay back ira 2 within its 60 day limit. Re: "60 day loan" from IRA Permalink Submitted by alan-oniras@yah... on Fri, 2012-11-30 18:06 That would work. If you have another IRA account, you can use it to provide another 60 days. You would have to take an actual distribution because a direct transfer is not reportable and cannot replace another distribution. You could take the distribution from IRA 2 to complete the rollover for IRA 1, subject to the one rollover rule (see last paragraph). You would take enough of your RMD in January to provide you with funds to complete the rollover of the 2012 distribution from IRA 2. While this may sound like you are rolling over some of your RMD which is not allowed, you are not doing that. Your 2013 RMD dollars will be reported as distributions and no part of them will be reported as a rollover. You are not reducing the 2013 amount of your taxable RMDs. If you had a 2012 RMD from these IRAs, I am also assuming that this was satisfied before the IRA 1 distribution that you are now trying to roll over. Note that there is also a one rollover per 12 month rule per IRA account. Therefore, you cannot do another indirect rollover from either IRA for 12 months from the distributions from those IRA accounts because each IRA distributed an amount that was rolled over. It would also not be allowed if you did such a rollover in the 12 months before the current rollovers because that would bring the current rollovers under the 12 month limitation. Thanks for posting!We all Permalink Submitted by ShennaT on Sat, 2013-04-06 06:59 Thanks for posting!We all know that loans allow you to repay the loan in shorter duration. Though the loan repayment duration depends on the type of loan, but usually short term loans provide finance for the duration that suits your repaying ability and personal circumstances. So a short term loan approval comes for few months if you want to have some money that you can pay back shortly. Or if you want a loan that you wish to pay back in some years then short term loans repayment duration usually ranges from one year to 15 years.Article source: Financial Advice.