Hello,
Very informative, but there still seems to be something that was not covered.
I needed to get money out of a simple IRA to make use of large 2020 deductibles, etc.,
so I requested financial advisor to, near the end of 2020, do a withdrawal,
but to make sure things went right, I only did a test of $5,000.
Due to problems, it was done as a check to me, that I deposited, and it has cleared.
A week after the original withdrawal, but before the end of 2020, I had another larger
withdrawal done, and that check is deposited, and cleared.
So, now I've been wondering if I pulled too much out, and don't need to take the larger tax hit,
and am thinking of putting more than the $5,000 (but less than the second withdrawal),
back into a new IRA as a 60-day rollover, but what has been said on here makes me
wonder if that would work. I have spent hours, and hours, and I can't find where IRS
or anybody else, says I can't treat the first one as a distribution, and the second as a 60-day
rollover. (Looks like this thread is only talking about 2 rollovers, and backing one out?)
So, why can't I just do the 1 rollover with the 2nd withdrawal? Thanks!
