Can I convert a Beneficiary IRA to Roth Solo 401K?
I have about $50,000 in an inherited IRA from my mother’s estate sitting in a mutual fund account. I’m planning to open a SoloK account with Pensco and would like to roll this over to the Solo K. Is this allowed?
Permalink Submitted by Denise Appleby on Sun, 2007-08-12 00:23
No. Inherited IRAs cannot be rolled over.
Permalink Submitted by bob malecki on Sun, 2007-08-12 00:29
Bummer. So, could I cash it out, then invest in my consulting business and use those investment funds to contribute to a Roth Solo K?