Mark for follow up Question 40 of 75. Paul's home was destroyed in Hurricane Florence and he qualified for a disaster distribution. He withdrew 595,000 from his IRA on September 30, 2018, which he included in his gross income on his 2018 tax return. In 2020, Paul was able to deposit $70,000 in his IRA. What is the tax treatment of the $70,000 deposit? The deposit reduces his 2018 distribution. He will file a revised Form 8915-C and an amended return for 2018, The deposit will be treated as a fully-deductible IRA contribution on his 2020 tax retum. The deposit will be used to create a credit on his 2020 return of the difference between his 2018 tax liability with the $85,000 distribution and what it would have been with only $25,000 taxable. The deposit is a repayment and does not change his tax returns