sjrcpa
Level 15
02-22-2021
08:30 PM
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So he really did take out $58,000?
To the bank, putting $50K back in within 60 days does not negate the $58K withdrawal.
On the tax return report as indirect rollover.
I do wonder how they are reporting the $50K on the 5498, though. Flagged as excess contribution, inviting IRS correspondence?
Ex-AllStar