Permalink Submitted by Alan - IRA critic on Fri, 2020-08-28 14:56
If you are referring to a 2020 distribution that would have been an RMD if RMDs had not been waived, the deadline is 8/31 (Monday) if the distribution took place more than 60 days ago. The custodian may or may not use the postmark date. If this distribution was from an IRA, it must be returned to the exact account that made the distribution. This rollover does not count against the one rollover limitation unless you are using a normal 60 day rollover and cannot meet the 8/31 deadline. Once you complete the rollover, it will be reported on Form 1040 just like any other rollover and will erase the amount from your 2020 taxable income. Finally, if your RBD was 4/1/2020 and you deferred your 2019 RMD to 2020, you can roll that back as well by 8/31.
Permalink Submitted by Alan - IRA critic on Fri, 2020-08-28 14:56
If you are referring to a 2020 distribution that would have been an RMD if RMDs had not been waived, the deadline is 8/31 (Monday) if the distribution took place more than 60 days ago. The custodian may or may not use the postmark date. If this distribution was from an IRA, it must be returned to the exact account that made the distribution. This rollover does not count against the one rollover limitation unless you are using a normal 60 day rollover and cannot meet the 8/31 deadline. Once you complete the rollover, it will be reported on Form 1040 just like any other rollover and will erase the amount from your 2020 taxable income. Finally, if your RBD was 4/1/2020 and you deferred your 2019 RMD to 2020, you can roll that back as well by 8/31.