BenefitsLink Message Boards > Can IRA distributions from a trust be rolled into a new IRA by the beneficiaries?

Full Version: Can IRA distributions from a trust be rolled into a new IRA by the beneficiaries?

BenefitsLink Message Boards > Boards Other Than Employee Benefits > How to Use the Message Boards (the "Forums")

gmandmjjones

Apr 26 2004, 04:21 PM

My father set up an IRA with his trust as the beneficiary. After he died the IRA was cashed out and the proceeds were divided between myself and my two sisters. Am I able to roll that amout into a new IRA so I can save the tax hit? I get conflicting answers from the finaincial planners I have talked to.

pax

Apr 26 2004, 05:53 PM

Try IRS Publication 590, available by calling 1-800-tax-form.

I believe rollover rights extend to the spouse but not to other beneficiaries.

Appleby

Apr 27 2004, 08:18 AM

followed up at http://benefitslink.com/boards/index.php?showtopic=24257

This is a "lo-fi" version of our main content. To view the full version with more information, formatting and images, please click here.