Beneficiary IRA Distributions
For an inherited/beneficiary IRA — can the IRA owner age 58 take a distribution and rollover the funds back into the account within 60 days in order to incur no penalty or tax?
thanks
For an inherited/beneficiary IRA — can the IRA owner age 58 take a distribution and rollover the funds back into the account within 60 days in order to incur no penalty or tax?
thanks
Permalink Submitted by Alan - IRA critic on Wed, 2019-02-06 16:29
No, any distribution taken from the inherited IRA will be taxable because it is not eligible for rollover -UNLESS the inherited IRA beneficiary is a surviving spouse. Note that if a non spouse beneficiary takes a distribution, it will be taxable, but there is never a penalty for a distribution from an inherited IRA.