My father in law stated that in late November he withdrew a large amount of money from a 401K planning to "income average" over four years. After I told him this technique had not been available for quite a few years and that I beleived all the withdrawal was taxable as ordinary income in the tax year 1999, he was flabberghasted. He asked if he could redeposit it as a rollover 401K or IRA in another investment vehicle to keep the distribution non-taxable. The problem, however, is that he is over or about 70 1/2. I am at a loss to give him suggestions. Can anyone help????
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