Inherited IRA Question

Submitted by Gregg Guiol on Tue, 2010-01-05 20:28

When someone with an ‘Inhertied IRA’ takes a distribution, what are the rules that apply towards the 60 day rollover provision ? Being told that the only monies eligible would be the RMD amount for that year and anything beyond that is not eligible for rollover.



Submitted by Alan Spross on Tue, 2010-01-05 22:01

With a non spouse inherited IRA, no rollovers are ever permitted, only direct transfers. All distributions are therefore final and taxable.

RMDs are not eligible rollover distributions, so that information was incorrect.

For a spousal inherited IRA, distributions can be rolled over to the survivor’s own IRA if desired, but not any RMDs.



Submitted by Gregg Guiol on Tue, 2010-01-05 23:17

Alan –

As always, straight to the point with concise information….

Much appreciated…

Thanks again –

Gregg Guiol



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