I have several IRA mutual fund accounts in Vanguard Funds.

To pay taxes on time, I want to borrow some from the IRA's, but then pay it back within 60 days.

Does the IRS allow this?


See this answer and this IRS announcement. You can initiate one indirect rollover of one IRA in a twelve month period. You have sixty days to put the funds back into the original IRA account, or a new IRA, before penalties kick on. This is not recommended, but is possible.


You can't borrow the money. But, you can transfer the money from one account to another so long as you do it within 60 days. Miss the decline by one day, and you have a problem.


You might not want to touch your IRA now. Retirement funds are for retirement. Too many people are still not saving enough for retirement.

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