Permalink Submitted by Alan - IRA critic on Wed, 2016-11-23 23:48
No, it cannot be converted to an inherited Roth IRA under current law unless you inherited the IRA from your spouse. But you might consider converting some of your own TIRA to your own Roth IRA and paying the taxes from the inherited IRA RMDs or additional distributions. That way, you are still using the inherited IRA to add to your Roth assets, and your own Roth IRA will not have RMDs like an inherited TIRA or inherited Roth IRA.
Permalink Submitted by tomd37 on Tue, 2016-11-22 21:51
From whom was the traditional IRA inherited? Tom D
Permalink Submitted by Sam Cannici on Wed, 2016-11-23 22:21
My Father.
Permalink Submitted by Alan - IRA critic on Wed, 2016-11-23 23:48
No, it cannot be converted to an inherited Roth IRA under current law unless you inherited the IRA from your spouse. But you might consider converting some of your own TIRA to your own Roth IRA and paying the taxes from the inherited IRA RMDs or additional distributions. That way, you are still using the inherited IRA to add to your Roth assets, and your own Roth IRA will not have RMDs like an inherited TIRA or inherited Roth IRA.
Permalink Submitted by Sam Cannici on Mon, 2016-11-28 23:19
Thank you for your reply. It is greatly appreciated.