Can you combine inherited IRA with Traditional IRA?
I know I can rollover a spousal IRA into a inherited IRA in my name. Can I combine this inherited IRA(from my spouse) into my traditional IRA?
I know I can rollover a spousal IRA into a inherited IRA in my name. Can I combine this inherited IRA(from my spouse) into my traditional IRA?
Permalink Submitted by Alan Spross on Thu, 2009-10-15 19:34
You can combine them if you want to assume ownership. You can also maintain the account in inherited form if you need penalty free distributions and you are under 59.5. There are also RMD considerations to assuming ownership vrs maintaining it as inherited. I would need the year of your spouse’s death, spouse’s age at death and your age in that year to outline the various options regarding penalties and RMDs. I assume you are the sole beneficiary of the IRA.