Inherited IRA Question
My wife passed away and I’ve inherited a portion of her IRA about 15% and my daughter the rest. Can I roll my portion over to my own IRA? I was told I couldn’t and that I had to setup a Beneficiary IRA because I wasn’t the sole beneficiary on my wife’s account.
Please help!
Permalink Submitted by Alan Spross on Wed, 2011-04-27 01:16
Sorry to hear of your loss.
What you were told is incorrect.
You can distribute your 15% interest and roll it over to your own IRA within 60 days, other than your share of any RMD due for the year of your wife’s death.
What you could not do is assume ownership of the inherited IRA since you were not the sole beneficiary.