Inherited IRA – ROTH Conversion Possible?
Is it possible to convert a non-spousal inherited IRA over to a ROTH IRA? Mimimum Distributions have been taken from the IRA for several years.
Thanks.
Is it possible to convert a non-spousal inherited IRA over to a ROTH IRA? Mimimum Distributions have been taken from the IRA for several years.
Thanks.
Permalink Submitted by Al Fry on Sun, 2007-11-25 23:46
No, not allowed from an inherited IRA.
Permalink Submitted by Alan Spross on Sun, 2007-11-25 23:46
No, this cannot be done. Ref Pub 590, p 29.
As for the reasons why not, who knows? RMDs must come out either way, but if an IRA owner wants a non spouse beneficiary to have a Roth IRA, the owner must create one while living.