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Yes, as long as the funds are rolled over to a qualified retirement account (IRA) within the 60 day period there would not be a tax. There is usually a 20% withholding on 401K distributions. If you return all of the distribution there would not be any tax. If there is withholding, you would be able to have this refunded when you file your tax return.
Can you reply to the posit. For some reason new questions are being created.