Rules for tax/repaying premature IRA withdrawal due to Hurricane Irma?

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MikeZ
Posts: 234
Joined: Sun Dec 07, 2014 9:17 pm

Rules for tax/repaying premature IRA withdrawal due to Hurricane Irma?

Post by MikeZ » Wed Nov 07, 2018 8:15 pm

I had to take an IRA withdrawal due to Hurricane Irma. When I read the IRS document at the time it said that:

1) The penalty is waved
2) The tax could be paid over 3 years
3) The amount could be re-contributed up to three years latter.

Now that I'm starting to get my ducks in a raw, is there any good reading on 2 and 3? I can't seem to find any technical details about the rules on how this will go.

clydewolf
Posts: 732
Joined: Tue Jul 21, 2015 12:51 pm

Re: Rules for tax/repaying premature IRA withdrawal due to Hurricane Irma?

Post by clydewolf » Thu Nov 08, 2018 2:08 pm

Did you read chapter 3 of pub 590-b? https://www.irs.gov/pub/irs-pdf/p590b.pdf

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