Inherited Roth + Inherited Traditional IRA
Let’s say one inherits a Roth IRA and the RMD amount is $1,000. They also inherit a Traditional IRA from that same person and the RMD amount is $2,000.
Do they have to take the RMDs individually from each type of IRA or can they combine them and take the $3,000 total from either one of them?
I know it could be combined if it was just one type of IRA, but I’ve never seen addressed the issue of what happens if you inherit both a Roth & Traditional.
Thanks in advance.
Karl
Permalink Submitted by Alan Spross on Fri, 2007-11-02 01:15
Karl,
They have to distribute those RMDs independently from the inherited TIRA and Roth IRAs. See Pub 590, p 66, “minimum distributions”.
This would also apply to a spouse beneficiary if they elected to maintain the IRAs as beneficiary accounts and not assume ownership.
Permalink Submitted by [email protected] on Fri, 2007-11-02 02:07
Thanks Allan.
It’s on page 66 just like you said:
“You cannot use your Roth IRA to satisfy minimum distribution requirements for your traditional IRA. Nor can you use distributions from traditional IRAs for RMDs form Roth IRAs.”
In this case it’s not a spouse beneficiary. I got them from my late father.