Bene IRA to Surviving Spouse IRA
If a survivng spouse initially establishes an Inherited IRA from her deceased spouse, can she eventually roll over this Inherited IRA to her own IRA with no tax issues if it is a custodian to custodian rollover? Both were under age 60 at time of his deat. She is age 60 now.
Permalink Submitted by Alan - IRA critic on Mon, 2024-01-08 15:19
She can do a 60 day rollover anytime, but an assumption of ownership is the better way to accomplish this since it is not reported by the custodian on a 1099R, nor on the taxpayer’s return, and is not subject to the one rollover limit within 12 months. For an assumption, she must be the sole beneficiary.