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I received a final distribution from a former employer at the last week of 2010. I want to roll this over into my IRA to avoid tax and penalty. I went to make a purchase through Vanguard and in the process it asks if this is a rollover from a employee sponsored plan. When I select yes, it forces the contribution to 2011. However, if I select not and do a normal individual contribution, I can elect to apply it to tax year 2010.
So my question is, for tax purposes, will I be able to recoup the 20% withheld on my taxes this year or in 2012?
FYI, I am making the contribution for the gross amount (not the net after-tax).
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