TaxGuyBill
Level 15
06-14-2021
02:53 PM
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@HTS wrote:
They are starting the repayment process
What does "starting the repayment process" mean?
It depends on (a) what year the recontribution was made and (b) if you are using the 1 year inclusion or 3 year spread. Read Notice 2020-50, starting on page 13:
https://www.irs.gov/pub/irs-drop/n-20-50.pdf#page=13