Time to reverse IRA distro?

[gbec...@gmail.com]

I took a (traditianal) IRA distribution in January. Since then, I've
learned that a stock I own (actually, a PTP) will be subject to a
forced sale. AIUI, this will count as income, substantially
increasing my tax bracket. If possible, I would like to reverse the
IRA distro.

As far as I can find right now, I can't - the time for reversing an
IRA distro is the 60-day rollover window, which is long past. But, I
have vague memory of reading of a longer (6-month?) window. So,
probably not, but better to check.

Thanks.

--
<< ------------------------------------------------------- >>
<< The foregoing was not intended or written to be used, >>
<< nor can it used, for the purpose of avoiding penalties >>
<< that may be imposed upon the taxpayer. >>
<< >>
<< The Charter and the Guidelines for submitting posts >>
<< to this newsgroup as well as our anti-spamming policy >>
<< are at www.asktax.org. >>
<< Copyright (2011) - All rights reserved. >>
<< ------------------------------------------------------- >>

[Alan]

On 6/28/17 8:49 AM, gbec...@gmail.com wrote:
> I took a (traditianal) IRA distribution in January. Since then, I've
> learned that a stock I own (actually, a PTP) will be subject to a
> forced sale. AIUI, this will count as income, substantially
> increasing my tax bracket. If possible, I would like to reverse the
> IRA distro.
>
> As far as I can find right now, I can't - the time for reversing an
> IRA distro is the 60-day rollover window, which is long past.

Based on the facts presented, you are not entitled to any waiver of the
60 day rule.

Just in case you did not provide all the facts, see the appendix of the
following revenue procedure. It contains available waiver reasons for
redepositing a distribution beyond the 60 day period.

https://www.irs.gov/pub/irs-drop/rp-16-47.pdf