Someone took rmd 30 days ago from two IRA's (a sep and traditional) and now which the CARE act rmd waiver wants to put back in. What are their options?
Custodian is saying can't just put money back in and would have to do as 60 day rollover. Problem is one rmd came from a SEP IRA and the other rmd came from their traditional IRA. Is the client allowed only one 60 day rollover per person not per account? In which case they wouldn't be able to put it all back in IRA?
Also taxes were withheld. How would that be handled?
Thanks and sorry if this has already been asked, I looked but didn't see anything.