Can an Inherited IRA be converted to a Roth IRA
I have a client who inherited her moms IRA and it is in the ditribution phase. Can this child convert her mom’s inherited IRA to a Roth and if so does this eliminate the need for RMD’s
Thanks,
Todd
I have a client who inherited her moms IRA and it is in the ditribution phase. Can this child convert her mom’s inherited IRA to a Roth and if so does this eliminate the need for RMD’s
Thanks,
Todd
Permalink Submitted by Alan Spross on Tue, 2008-05-20 18:03
Todd,
No, a non spouse beneficiary cannot convert an inherited TIRA to a Roth (Pub 590, top of page 30). The beneficiary must continue to take the RMD at a minimum.
If the beneficiary has earned income and is eligible for a regular Roth IRA contribution, they could use the RMDs to help fund that contribution.