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frayne 10-05-2007 02:11 PM

IRA Question
If a person is taking 72T distributions from an IRA can he/she still contribute back into it ?

Martha 10-05-2007 02:38 PM

I believe you cannot.

Instead, open a new separate IRA.

Publication 590 (2006), Individual Retirement Arrangements (IRAs)

retire@40 10-05-2007 03:11 PM

Martha is correct per Rev Rul 2002-62 Sec 2.02(e):

(e) Changes to account balance. Under all three methods, substantially equal periodic payments are calculated with respect to an account balance as of the first valuation date selected in paragraph (d) above. Thus, a modification to the series of payments will occur if, after such date, there is (i) any addition to the account balance other than gains or losses, (ii) any nontaxable transfer of a portion of the account balance to another retirement plan, or (iii) a rollover by the taxpayer of the amount received resulting in such amount not being taxable.

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