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More than one rollover if repay coronavirus

Answered by: 

Question: 
How will our customer repay the $100,000 withdrawal? Won’t it exceed one rollover per year rule?
Answer: 

Yes but your customer has an exception. The one per year rollover rule does not apply to coronavirus distributions. You will code the recontributions as a rollover and disregard the rule.

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IRA Year End Wrap-Up

First published on 10/25/2020

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