Paul's home was destroyed in Hurricane Florence and he qualified for a disaster distribution. He withdrew $95,000 from his IRA on September 30, 2018, which he included in his gross income on his 2018 tax return. In 2020, Paul was able to deposit $70,000 in his IRA. What is the tax treatment of the $70,000 deposit?

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Ans Revised Form 8915C need to file for 2018 along with amended return for 2018 The Tax treatment of ... View the full answer