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Merlo
Merlo, Accountant
Category: Tax
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Experience:  25+ years tax consulting. Specializing in returns for US citizens living abroad
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WIDOWER RECEIVES IRA PROCEEDS FROM SPOUSES IRA. CAN HE START

Resolved Question:

WIDOWER RECEIVES IRA PROCEEDS FROM SPOUSE'S IRA. CAN HE START HIS OWN IRA WITHOUT PAYING TAXES??
Submitted: 7 years ago.
Category: Tax
Expert:  Merlo replied 7 years ago.
Hello MZM,

Yes, you may roll over those funds in to your own inherited IRA.

Once you have rolled over the funds in to your own IRA account, you will only be taxed on any amount that you withdraw in a given year.

The custodian firm that currently holds your husband's IRA account can arrange for this inherited IRA account to be set up for you.

If this was helpful please press the Accept button. Positive feedback is also greatly appreciated.

Thank you MZM, and please feel free to let me know if you have additional questions.

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