disneysteve
Thinks s/he gets paid by the post
- Joined
- Feb 10, 2021
- Messages
- 2,410
Sometime this year I will inherit a tIRA and a Roth IRA from a relative. I know the rules changed a couple of years ago. They eliminated the provision that let you stretch withdrawals over your lifetime and changed it to a 10-year period. But I believe one of the exceptions is if the deceased was less than 10 years older than you, in which case you can stretch payments over your life expectancy. Is that correct, because that will apply here?
Logistically, what happens when the person dies? It sounds like I need to transfer the money into an inherited IRA. What about the inherited Roth? Will it remain tax-free money for me? Is there an Inherited Roth that I'll transfer it to?
So many questions and things to figure out.
Logistically, what happens when the person dies? It sounds like I need to transfer the money into an inherited IRA. What about the inherited Roth? Will it remain tax-free money for me? Is there an Inherited Roth that I'll transfer it to?
So many questions and things to figure out.