If I took Roth IRA distrubitions after turning 59 1/2,a few years back, can I replace those funds back in my ira now?

Forum|Forum|1 year ago
January 15, 2025
3 replies
0 views

No text available

Best answer by VolvoGirl

No. You can make a new contribution if you have earned income from W2 wages or a Net Profit on Schedule C for self employment income.

VolvoGirlAnswer

Employee

No. You can make a new contribution if you have earned income from W2 wages or a Net Profit on Schedule C for self employment income.

Opus 17

Employee

The limit for putting money back into an IRA is generally 60 days. (This is considered a type of rollover.)

For certain types of federal disasters, if you withdraw money from your retirement to manage the disaster situation, you have up to 3 years to put the money back as a special extended rollover. This is tracked and reported on from 8915-F.

Outside those two situations, you can't "put money back" into any kind of IRA. You might qualify to make new contributions, but they will be subject to all the usual rules for IRA contributions (annual limit, income limit on contributions and deductions, must have compensation, and so on).

dmertz

Employee

They can be repaid now only if they were qualified disaster distributions or qualified birth or adoption distributions received within 3 years of the repayment.