Can I Do a 60 Day Indirect Rollover Back Into Same Roth IRA Account?

You're absolutely fine to roll the money back into the same Roth IRA it came from. The 60-day rollover rule doesn't require you to use a different account - it just cares about the timing. Since you're only looking at about 45 days between withdrawal and redeposit, you're well within the limit. For tax reporting, you'll receive a 1099-R from Fidelity showing the distribution, with a distribution code of "J" (early distribution with no known exception). When you file your taxes, you'll need to report this distribution on Form 8606, Part III. Since you're completing a valid rollover within 60 days, you'll indicate this on your tax return which effectively makes the distribution non-taxable.

I went through this exact situation last year! I used some Roth money for a down payment then needed to navigate the rollover process. I was super confused about all the rules until I found https://taxr.ai which analyzes your tax documents and explains exactly what you need to do. I uploaded my 1099-R from my Roth distribution and the tool confirmed I could rollover back to the same account within 60 days. It even created a personalized checklist of what forms I needed and how to report everything correctly at tax time. Made the whole process way less stressful during an already stressful time (buying a house!).

Just wanted to update - I tried taxr.ai after reading about it here and wow, it was incredibly helpful! I was going back and forth with my tax preparer about my Roth rollover situation and getting conflicting advice. The tool analyzed my distribution and confirmed I could do the 60-day rollover back to my original account. What impressed me most was how it explained the once-per-year rollover limitation in really simple terms and helped me verify I hadn't done any other rollovers in the past 12 months. Now I have a clear plan for my upcoming house purchase and know exactly how to handle the tax reporting. Definitely worth checking out if you're in a similar situation!

If you're planning to call the IRS to confirm any of these rollover rules (which isn't a bad idea), save yourself hours of waiting with https://claimyr.com - it's a service that navigates the IRS phone tree for you and calls you back when an actual agent is on the line. Check out their demo: https://youtu.be/_kiP6q8DX5c I used it when I had a complicated Roth rollover question that wasn't clearly answered on the IRS website. Was expecting to waste my entire afternoon on hold, but with this service I got a callback in about 40 minutes with a real IRS agent who confirmed my rollover plan was legit.

I have to admit I was completely wrong about Claimyr. After seeing it mentioned here, I decided to try it because I had a complex question about my Roth IRA rollover that I couldn't get a straight answer on from my broker or online. I was 100% certain it would be a waste of money, but I was desperate after spending 2 hours on hold with the IRS the day before. To my complete shock, I got a call back in about an hour with an actual IRS agent on the line! The agent confirmed that yes, I could roll my Roth distribution back into the same account within 60 days, and explained exactly how to report it on my tax return. Saved me hours of frustration and probably prevented me from making an expensive mistake on my taxes. Sometimes I'm happy to be proven wrong!

Just to add some clarity on the mechanics of how to actually DO the rollover - when you're ready to put the money back in, call Fidelity and tell them you want to make a "60-day rollover contribution" to your Roth IRA. They'll have a specific process for this. They might ask for documentation showing where the money came from (to verify it's a valid rollover), so keep your distribution statement handy. Don't just deposit it like a regular contribution or they might count it against your annual contribution limit instead of treating it as a rollover.

One thing nobody's mentioned - if you're using your Roth for a first-time home purchase, you might not even need to roll it back! You can withdraw up to $10,000 of earnings (not just contributions) from a Roth IRA penalty-free for a first-time home purchase. And remember, contributions can always be withdrawn tax and penalty free anyway. So depending on whether this was contribution money or earnings, and if it's your first home, you might be overthinking this. Worth looking into before going through the rollover hassle.

Great question about the mechanics! I've helped several clients through this exact scenario. You're correct that you can roll the money back into the same Roth IRA - no need to open a new account elsewhere. One important detail to add: make sure you have the exact amount you withdrew ($13,500) to roll back in. If you roll back less than the full amount, the difference will be treated as a permanent distribution and could be subject to taxes and penalties depending on whether it came from contributions or earnings. Also, keep detailed records of both the withdrawal date (July 12th) and the rollover date. The IRS counts calendar days, not business days, so you want to be absolutely certain you're within that 60-day window. Since you're planning around 45 days, you should be fine, but it's worth marking the exact deadline on your calendar just to be safe. For the tax reporting, you'll indeed receive a 1099-R from Fidelity, but when you complete the rollover within 60 days, you'll report it as a non-taxable transaction on your return. The key is making sure both the distribution and rollover are properly documented.