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Author: ptheland Big gold star, 5000 posts Feste Award Nominee! Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 121596  
Subject: Re: Roth w/drawal & redeposit Date: 2/28/2010 10:42 PM
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Is there any provision for me being able to redeposit the same amount of money in the same year?

Yes. It's called a Rollover. You have 60 days from the distribution date to put the money back into a Roth IRA (could be the same or a different account, BTW). You can only do this once every 12 months (measured from the date of distribution, IIRC). And that is 60 days. No exceptions for holidays, weekends, vacations, dogs eating the paperwork, or natural disasters. 60 days, period. If the 60th day is a Sunday, you really have only 59 (or 58) days.

So if by "a few months" you mean "two" you're set.

Assume the qualifications on seasoning the account and age at withdrawal are met.

They don't need to be met to do a rollover. But if they are, you simply have a tax-free distribution if you don't get the money back in the account within 60 days. Not exactly the end of the world, tax-wise anyway.

--Peter
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