Inherited IRA Distribution
If someone had an automatic distribution setup on an Inherited IRA for last year and it got processed at the end of the year, is there any way to reverse that like the 60 day window on a Traditional IRA? Distribution was taken early December, and we can’t find any verification whether there is a window where it can be reversed now in January.
Andrew
Permalink Submitted by Alan - IRA critic on Thu, 2021-01-14 19:19
If this was a non spouse, there is no way to roll the distribution back. The one time exception for rolling back non spouse beneficiary distributions expired on 8/31 and that was limited to amounts that would have been 2020 RMDs had they not been waived. Apparently, the IRS thought that by summer 2020 any automatic RMD distributions could have been stopped if the taxpayer did not need the distribution.
Permalink Submitted by David Mertz on Thu, 2021-01-14 19:25
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