401k distribution

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  • Paul Cohen
    Junior Member
    • Sep 2009
    • 1
    #1

    401k distribution

    Taxpayer takes a distribution from her 401k. Does she still have 60 days to replace the
    funds back into the plan without penalty?
    Tags: None
    • ChEAr$
      Senior Member
      • Dec 2005
      • 3872
      #2
      depends

      Originally posted by Paul Cohen
      Taxpayer takes a distribution from her 401k. Does she still have 60 days to replace the
      funds back into the plan without penalty?
      on whether the fund will take the money back.

      But all is not lost, in fact I think a better idea would be to roll it over into an IRA where
      client can have much better control over it.
      ChEAr$,
      Harlan Lunsford, EA n LA

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        • Lion
          Senior Member
          • Jun 2005
          • 4698
          #3
          Distribution

          Was it a loan or a distribution? Was there w/h? If so, remember to tell her to replace the full amount or she'll still get a F1099-R the the unreplaced/unrolled over amount.

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