IRA FROM DESEALED SPOUSE
Hi one of my cousin 69 passed away few weeks ago and had IRA. His spouse is 64 still working what are her options including ROTH IRA convession. she does not have IRA of her own.
Hi one of my cousin 69 passed away few weeks ago and had IRA. His spouse is 64 still working what are her options including ROTH IRA convession. she does not have IRA of her own.
Permalink Submitted by Alan - IRA critic on Sun, 2021-12-19 19:38
Since this is the last year spouse can file jointly, a partial conversion of an optimal amount probably makes sense. She should elect to assume ownership of the inherited IRA ASAP and convert the desired amount before year end. Time is very limited to get this done. She must have the IRA retitled as inherited, and then she can elect to assume ownership and have the conversion done as a single request. There are no RMDs to be concerned with now.