Latest Breaking News

progree

(12,202 posts)

10. This makes me nervous, "I'm looking to put most of the funds back into my IRA where they came from."

Wed Jul 30, 2025, 05:57 PM

Jul 30

One can't pull money out of an IRA and then put it back in. Once one withdraws money from the IRA, it's out of the IRA, full stop (and one must pay taxes on the IRA withdrawal unless it's from a Roth).

Any money put into an IRA (whether it came from an IRA withdrawal or from somewhere else) is counted as a new contribution, and must meet the max annual limit on IRA contributions, and an IRA contribution cannot exceed earned income for the year, among other conditions.

Disclosure: I'm not a tax or IRA expert. I just don't want to see you fined for making an illegal IRA contribution.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

13 replies

= new reply since forum marked as read

Highlight:

Divided Fed holds key interest rate steady, defying Trump's demands for aggressive cuts [View all] BumRushDaShow Jul 30 OP

Good news! CountAllVotes Jul 30 #1

This makes me nervous, "I'm looking to put most of the funds back into my IRA where they came from." progree Jul 30 #10

The ketchup will be flying tonight. Ray Bruns Jul 30 #2

Federal Reserve holds key interest rate steady as it monitors Trump's tariff policy LetMyPeopleVote Jul 30 #3

Clowns complaining about current rates don't want to remember 6-11% bucolic_frolic Jul 30 #4

Powell: "Increased tariffs are pushing up prices in some categories of goods. LetMyPeopleVote Jul 30 #5

Fed Rate cuts also affect Investment accounts ProudMNDemocrat Jul 30 #6

"in acknowledgement that inflation is under control" progree Jul 30 #7

Don't they do a "dot plot" of what they see as interest rate changes in the future? progree Jul 30 #8

For some reason (and I blame you guys :P) BumRushDaShow Jul 30 #11

Thanks much for the info and for getting all of your many subscriptions 😊 progree Jul 30 #12

Most welcome!! BumRushDaShow Jul 30 #13

Higher interest rates work for me. ananda Jul 30 #9