403B LOAN DEFAULT

A CLIENT TRANSFERED A 403B TSA AT AGE 73 TO THERE IRA , LOAN DEALFAUTED ON 403B FOR 13,000 AND WILL BE TAXABLE IN 2020, UNDER 60 DAY ROLLOVER RULE , CAN THEY ADD THAT AMOUNT TO THE IRA , TO OFFSET THE TAXATION OF THE 13,000, CLIENT HAS THE CASH TO FUND BACK THE 13,000



Yes, an offset distribution can be rolled over within 60 days, and depending on the reason for the offset distribution, the rollover deadline could be the tax filing date for the 2020 return. It’s simpler if the rollover can be done within 60 days of the offset distribution.



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