Reply To: 2020 RMD

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Alan S.

Ruth, not sure which statement you are referring to. If someone took 3 distributions that cannot be treated as corona virus related, they can only roll one of them back. But a conversion does not count with respect to the one rollover limit, therefore in one can be converted, one can be rolled back and one cannot be rolled back. That said, it is very possible that the IRS will eventually issue guidance that expands CV related distributions in a much broader way and the CARES Act gives them that authority. As just one example, they could allow all RMDs to be rolled back and all other distributions taken after a certain date. Hopefully the IRS will publish guidance on this soon.