Inherited IRA in 2020
A qualified individual for purposes of section 2202 of the CARES act, …due to being furloughed…. took a withdrawal from an Inherited IRA. Can the tax be spread over 3 years under the provisions of the CARES act?
I don’t believe the fund can be returned to IRA-BDA?
thanks
Steve
Permalink Submitted by Alan - IRA critic on Thu, 2021-02-25 14:19
It is the income that can be reported over 3 years, so the tax will vary. Correct, no repayment is possible since distributions from inherited accounts are not eligible rollover distributions.