can an inherited ROTH IRA distribution in 2020 be returned
My grandchild inherited a small roth ira in 2016 and has been withdrawing distributions since then. Can she return the 2020 distribution she took under the new rules?
My grandchild inherited a small roth ira in 2016 and has been withdrawing distributions since then. Can she return the 2020 distribution she took under the new rules?
Permalink Submitted by Alan - IRA critic on Sun, 2020-07-12 14:55
Yes, to the extent that the distribution was an RMD, she can return it to the same account no later than 8/31/2020. If she files a tax return, she will have to report the distribution and rollover on lines 4a and 4b of Form 1040.