Can I rollover a Traditional IRA I inherited?

A taxpayer whose interest in an IRA is as beneficiary of the person who created the IRA is generally denied the privilege of rolling over tax free from the IRA to another type IRA or a qualified plan or tax-deferred annuity, except that a surviving spouse may roll over to another IRA but not a qualified plan. Because the tax allowances for IRAs (including an IRA’s tax exemption) are intended to encourage saving for the retirement of the contributor and surviving spouse, Congress decided it was inappropriate to allow the tax exemption to be prolonged by rollovers after the contributor has died and the account has passed into the hands of a person other than a surviving spouse.

Please contact one of our IRA Experts at 800-472-0646 for more information.


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