sciguyCO t1_jeftwzw wrote on March 31, 2023 at 6:25 PM

Reply to comment by BogBabe in When can I withdraw from Roth IRA ? by bepis49

>You can't put it back in again later — you're still limited to the annual contribution amount allowed.

While generally true, there is a small loophole. If the money is returned to the IRA within 60 days, it can be treated as an "indirect rollover", negating the withdrawal and not counting as part of this year's contribution limit. As I understand things, it doesn't even have to involve separate IRAs, you can "rollover" out of an IRA back into the same one as long as the rest of the rules are followed. The IRS does limit an individual to only one indirect rollover every 12 months, so this isn't something that can done on a regular basis.

BogBabe t1_jeg5kpb wrote on March 31, 2023 at 7:42 PM

Yes, that's true, i forgot about that. You can "put it back" within that very short time-frame, once per year, and only if the Roth IRA in question hasn't previously been involved in a rollover in the past 12 months.

If we're getting into the details of this, OP could also make a qualified withdrawal if he becomes disabled, if he's buying his first home, or if he dies and his beneficiary wants to make a withdrawal.