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    Spousal inherited IRA question

    He died a few years ago. The lady now has switched or moved her IRA's to a new firm. She has her own IRA and she has an inherited IRA from her husband from when he passed away a few years ago.

    The inherited IRA says:

    Jane Smith inherited IRA
    Jane Smith as beneficiary for John Smith

    At old firm, never rolled over into her IRA. She has been taking RMD's from the inherited IRA enough to cover RMDS for both. Taking big distributions.

    Question is, should she rollover over this inherited IRA over to her own IRA?
    Should that have been done way back when? Or is it ok to have them both?

    Thanks!!

    #2
    Originally posted by nwtaxlady View Post
    He died a few years ago. The lady now has switched or moved her IRA's to a new firm. She has her own IRA and she has an inherited IRA from her husband from when he passed away a few years ago.

    The inherited IRA says:

    Jane Smith inherited IRA
    Jane Smith as beneficiary for John Smith

    At old firm, never rolled over into her IRA. She has been taking RMD's from the inherited IRA enough to cover RMDS for both. Taking big distributions.

    Question is, should she rollover over this inherited IRA over to her own IRA?
    Should that have been done way back when? Or is it ok to have them both?

    Thanks!!
    Inherited IRA choices. A designated beneficiary has several choices when inheriting an IRA. See TTB starting at page 13-24 for in depth information
    Always cite your source for support to defend your opinion

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